New York private equity giant KKR pulls out of Thames Water rescue

25 comments

1. Good

   Let them fail

   Govt buy them for a pound. Make the rest of the thieves take note.

2. They need to stop trying the recapitalisation route and just go into a controlled bankruptcy. Give all the shareholders 50p a share like I got when Astra Space couldn’t get a rocket to work, and let the government take over. We need to stop rewarding failure just because some rich people may get upset.

3. Good. The sooner we have public control of public services the better; foreign investors should not be in control of our *running water*, for fuck’s sake.

4. It sounds like kkr didn’t wanna be the ones holdingbthe bag for other’s mistakes.

5. Thank fuck. The last people we want in charge of our critical utilities is private equity.

6. Labour would get a 25% poll bump by nationalising these charlatans.

   I literally cannot think of anyone I’ve seen profess a good opinion of anyone in the management and corporate side of the water industry. They are seemingly universally despised.

7. The value of your investment may go down as well as up.

8. Let it fail. It’s criminal what’s happened. I’m sick of the lack of honour and accountability. There’s no shame anymore. Why should I remain a decent person in society if those with actual authority cannot

9. The very best news the Uk people have had for decades – we should rejoice 

10. Renationalise Critical National Infrastructure now.

11. New reporter on the radio just called them KKK lol.

12. The problem started with Macquarie an Australian investment company, that borrowed money to pay themselves dividends and then when they had maxed out sold it on. They need to be investigated for fraud/mismanagement and what is more their dealings exposed!!!

13. Imagine how bad it must be for a private equity firm to pull out on a rescue with a literal monopolised utility in one of the largest economies in the world.

14. Let it fail

    Renationalise

    Imprison the CEOs and upper management

    Seize CEO and shareholder assets

    This nonsense will only stop if an example is made of them.

15. It is very naive to think that they will just let government to take it back with a penny. What is going to happen is they will get loan against all their assets and they will bankrupt when there is no way to get loan more. Then, when public take it over, public have to pay the loan accumulated in years.

16. If it was any of us struggling to pay our water bill they wouldn’t give a single fuck. Hope it goes bust, lots of people lose lots of money and the government take control. You can’t be capitalist when it works but socialist when it doesn’t.

17. The parent company of Welsh Water failed in 2001 and DCWW is now run as a not for profit organisation. This is what should happen to Thames Water now. DCWW does not have a perfect record or low bills so it is not a straight conversion to a better outcome for customers.

18. If it’s a public utility then it should be publicly owned. How were we fooled into thinking otherwise. A private entity is only going to be focusing on profit as has been proven with this mess.

    Nationalise ALL public services & utilities.

19. I really want them to fail. I hope they all topple.

20. What a surprise, I guess when it involves spending money to take money people don’t like it.
    They just prefer the taking part.

21. Its nice to see KKR having thier arse whipped. First they lost the bid on Assura now they’re making a loss on investment.

22. This needs a government buy out. Nationalise it and don’t pay the shareholders or management anything.

23. Good. We should never have even entertained the notion of selling our WATER infrastructure to a foreign party. Absolute insanity. 

24. Fantastic news! Private equity are the parasites of the world

25. I have also pulled out of my Thames Water Direct Debit and urge everyone to do the same.

    They will send me a bill next year but until then I’m not supporting their cash flow and hope they burn to the ground.

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