UK's Thames Water faces new crisis after shareholders refuse to invest

Thames Water, Britain's biggest water utility, said shareholders had refused to stump up a promised 500 million pounds of equity, heightening concerns about its survival, after it failed to agree future bills and conditions with the regulator.

Thames Water said in a statement on Thursday that it was "business as usual" for the company, seeking to reassure its 16 million customers after a year of speculation that it could collapse under the weight of its more than 14 billion pounds ($17.7 billion) of debt. "Discussions with Ofwat (the regulator) and other stakeholders are ongoing," Thames Water said in its statement.

The company's shareholders, who include Ontario Municipal Employees Retirement System and the UK's Universities Superannuation Scheme, had been due to provide the new equity by March 31. 

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)