Should we allow 'foreign' ownership of our major utilities.

[davieG]

Severn Trent Water has received a takeover approach by a group of international investors, including the Kuwaiti government.

The utility firm, which supplies tens of thousands of homes and businesses across Leicestershire, said the consortium included a Canadian infrastructure company and the Kuwaiti government investment fund.

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Severn Trent supplies tens of thousands of homes and businesses across Leicestershire

Severn Trent said the approach was “at a very early stage” and there was no certainty that an offer would be made.

The company was formed following the privatisation of UK water authorities in 1989.

It supplies water to about 7.7 million people in total.

Last month it was announced group chief executive Tony Wray, who lives near Hinckley, was to retire in spring 2014.

Read more: http://www.thisisleicestershire.co.uk/Severn-Trent-receives-takeover-approach/story-18980463-detail/story.html#ixzz2TFfRFbed

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[davieG]

I don't believe that water should have been privatised in the first place, certainly it's not created any competition.

[Parafox]

If they provide the investment neccessary and are legit, I don't see why not. It would be the same as major UK investors and the British government investing.

 

But they won't. The tories wouldn't contemplate what would effectively be nationalisation.

 

That's why so many of our previously state owned utilities are in foreign hands already.

 

Thanks Maggie.

I don't believe that water should have been privatised in the first place, certainly it's not created any competition.

 

And gas and electricity has?

 

Effectively they operate as legalised cartels.

[Jon the Hat]

There is plenty of british cash about, and no doubt british pension funds will have their money in these companies as well.  To be honest, an infrastructure company is about as low risk as it gets in terms of allowing foreign ownership.  They can't take it somewhere else can they?  As long as we have a decent regulator in place, I dont see why not.  Plenty of British companies own assets in the rest of the World.  See Vodafone for example.

[AyewJoking]

what the op really means is do you want kuwati's pissing in the water?

[MooseBreath]

You need to allow foreign companies to invest here if you want to be able to invest abroad. It works both ways.

Privatised and well regulated is a better theoretical model than nationalised, the problem has always been with the "well" part.

[Mike the Metal Ed]

Something as vital as water shouldn't be private, or at least we certainly shouldn't be run by a collection of privatised monopolies as we have now, so if a foreign company can do a better job of fixing leaks and lowering bills, then I don't see why not.

[ADK]

Nationalise them.

[Bayfox]

 

what the op really means is do you want Forest pissing in the water?

 

Fixed

[Captain...]

It really depends on what it actually entails, will it create jobs in the UK or lose them? Will it increase UK tax revenue or decrease it? Are they pledging to sort out the massive problems we have with old pipes leaking water everywhere or improve the service, quality, efficiency.

Ideally I would like to see it stay UK owned, but if foreign owners are going to come in and do a better job whilst not funneling profits and therefore taxes through other countries then I don't see a problem.

[Wymsey]

As long as they comply with the relevant industry regulations, then that's fine by me.

[Parafox]

And you can bet your last Dinari we'll be on water meters, like it or not.

[AyewJoking]

And you can bet your last Dinari we'll be on water meters, like it or not.

Good call. Im out.

[sphericalfox]

Let them have it! As long as they don't pay any taxes on their extortionate profits!