Billionaire Trump donor in line to make millions from Thames Water bid

Key points

• A billionaire Donald Trump donor could make millions from a deal being struck between the government and Thames Water.
• The UK’s largest water company, ministers and creditors are at an impasse as they try to agree a rescue deal to stave off Thames’s collapse.
• The water company built up a £17.6bn debt pile in the decades after its privatisation.
• Elliott Investment Management is one of the leading creditors, in a group that includes Silver Point Capital, BlackRock and M&G.
• The consortium of hedge funds – known as London & Valley Water – is attempting to take over Thames in a multibillion-pound restructuring.