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Thames Water should be put into “special administration” rather than given a £3 billion bailout, a Surrey MP said after the utility company won a major court battle to stave off nationalisation.

The UK's biggest water provider has delayed its request for even higher customer bills. Thames Water has deferred its appeal to the Competition and Markets Authority (CMA), the regulator tasked ...

He added, "We remain focused on putting Thames Water onto a more stable financial foundation as we seek a long-term solution to our financial resilience." "Today's news demonstrates further progress." ...

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While the latest funding package is being provided by a set of Thames Water's senior creditors – or lenders – a rival group of secondary creditors had appealed against the decision.