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Thames Water receives £7bn bid from Hong Kong’s CK Infrastructure

Deal would require debt-laden utility’s bondholders to take significant writedowns
Thames Water is looking to raise billions of pounds in equity while negotiating a debt restructuring with its lenders in a bid to avoid insolvency

Hong Kong’s CK Infrastructure has made a preliminary £7bn bid to take a majority stake in Thames Water, while indicating that it would require the troubled utility’s bondholders to take significant haircuts.

CKI, part of the CK Hutchison group, submitted the non-binding offer to take over Thames Water earlier this month, according to two people familiar with the matter.

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