THAMES — THAMES WATER LENDERS PREPARE FOR LEGAL BATTLE OVER NATIONALIZATION THREAT

A consortium of Thames Water's creditors is preparing for a legal fight over incoming Prime Minister Andy Burnham's plans to potentially nationalize the utility. The group, which includes Elliott Management and Apollo Global Management and holds £17bn of Thames's £21bn debt, has retained law firms Pallas Partners and Akin Gump. The move comes as the investor group negotiates a £10bn restructuring deal to prevent the company from collapsing into a special administration regime.