708 articles in United Kingdom
While stories about the industry’s preference for highly geared debt structures have made all the headlines in recent months, water company business managers have been quietly getting on with the task of preparing for the next periodic review.
Since last month’s flotation of Northumbrian Water Group, the London Stock Exchange offers a choice of six water-related investment vehicles. Although each faces the same regulatory regime in its core water business, the difference lies in their non-water interests and their financial structure. The alternatives offered to investors are as follows:
Can the companies really become more efficient?
AWG rejected an improved offer from WestLB last month, citing concerns over the German bank’s ownership of Mid Kent Water.
France: Vivendi Environnement announced its new name. The company is now called Veolia Environnement (still VE for short) after the mythological character Aeolus – keeper of the winds.
A plan to refloat the company on the stock exchange has emerged.
Have the French companies bottomed-out?
UK: Six groups were shortlisted to buy Northumbrian Water.
Germany: Richard Klein and Manfred Remmel both left RWE by “mutual consent”.
RWE’s new chief executive made a good impression at his first analysts’ conference last month.