Thames Rescue Deal Stumbles With Ofwat Split Over Approval (2)

The board of UK watchdog Ofwat is split over whether to approve a rescue deal offered by the creditors of Thames Water, increasing the risk the utility could collapse into special administration.

Ofwat’s board — eight men and women charged with deciding the future of the UK’s largest water and sewerage company — have so far failed to reach a consensus on the deal floated last month by senior creditors, according to a person familiar with the matter, who asked not to be identified talking about confidential negotiations.

Thames, which supplies water to about a quarter of England’s population, has ...