Bidders line up for troubled Thames Water

Thames Water has received multiple bids for the struggling business, warning it could run out of cash by next year.

Castle Water, the Scottish utility firm co-owned by Conservative Party treasurer Graham Edwards, is understood to have made an offer for Thames Water ahead of next Thursday’s deadline for potential investors.

Infrastructure investor Covalis, backed by French firm Suez, has also reportedly thrown its hat in the ring in a deal that could break up the debt-laden water giant.

Thames is Britain’s largest water company and one in four people in Britain depends on the company for its water supply.