Dan Coatsworth, head of markets at AJ Bell, said: “The ongoing saga with Thames Water looks set to continue as the government reportedly objects to a proposed rescue deal.
“This raises the likelihood of nationalisation of the business and could be a signpost to the wider direction of travel.
“There is speculation Andy Burnham might put water and energy businesses under stronger public control if he wins the Makerfield by-election on Thursday and launches a successful bid to get into Number 10.
“The latest developments are unwelcome for an industry which has been making progress in cleaning up its act.”
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