The GMB Trade Union, which represents around 10,000 water industry workers in the UK, has said that the potential breakup of Thames Water would be disastrous for both consumers and the workforce.
Responding to the news that Thames Water has received multiple bids, GMB said this could lead to the break-up of the debt-ridden water company.
Gary Carter, GMB National Officer, said:
“Any plan to takeover Thames and break it up would be a disaster for consumers and workers.
“These bids won’t stop the leaks nor pollution – they will only line the pockets of those who want to break it up.
“Thames Water needs considered, long term investment to repair its infrastructure, stop the leaks and provide stability; not the plundering of its assets to make a quick buck.
“The Government has to stop this vulture auction and take control of Thames in the interest of the public.”
Last week news circulated that Castle Water, a Scottish utility company, and French firm Suez, led by Covalis Capital, were interested in Thames Water. According to a BBC investigation, there may be at least four others.
