No need for nationalisation

THAMES WATER has raised £750 million (€879.7 million) from shareholders.

Last month there were rumours that the company, which provides water and sewage services for 15 million people in London and southeast England, could enter special administration.

Cathryn Ross, who took over as interim co­chief executive following Sarah Bentley’s surprise departure in June, insisted during a BBC interview that nationalisation “was not on the cards.”

Thames Water had not pulled off plans to secure a hoped­for £1 billion

Still ugly

BIRKENSTOCK sandals, once dismissed as ugly but comfortable, are still ugly but are now fashionable. The brand founded in 1774 is contemplating a $6 billion (€5.39 billion) stock market listing, two years after selling a majority stake to consumer­focused private equity firm L Catterton in a deal that valued the company at €4.9 billion. Brothers Christian and Alex Birkenstock, who are still involved with the brand, are each believed to be worth around $1.7 billion (€1.54 billion) after selling to L Catterton, which has backing from Bernard Arnault, chief executive of LVMH and the world’s second­richest man after Elon Musk.

(€1.17 billion) lifeline, Ross said, although its £4.4 billion cash pile (€5.16 billion) was “absolutely enough” to cover costs for 2023, 2024 “and into the future.”