Australian bank Macquarie Group is getting ready to sell off its £3 billion stake in Thames Water, according to a report in yesterday's Sunday Telegraph newspaper.
The newspaper said that a spokesman for Thames Water had yesterday confirmed that Macquarie has hired Nomura to manage the sale of its remaining holdings.
Existing shareholders in Thames, which include the Abu Dhabi Investment Authority, the China Investment Corporation and the BT pension fund would be given a first refusal before external buyers could bid for the shares, according to the newspaper.
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