Thames Water creditors secure former Labour minister to drive rescue deal

Stricken UK water supplier lines up John Hutton as independent chair designate if takeover goes aheadThe group of Thames Water creditors pursuing a £10bn rescue deal for Britain’s largest water supplier has lined up a former senior Labour minister to chair the company, as it tries to win over the government.The creditor consortium, called London & Valley Water, said on Tuesday that Lord John Hutton had been selected as independent chair designate of the Thames Water board, if the consortium’s takeover of the utility goes ahead. Continue reading...