Water companies let off more lightly than expected
Article Abstract:
Price controls have been announced for United Kingdom water companies which are less stringent than expected. A price cut of between 15% and 20% was suggested in Oct 1998, but the cut actually averaged 13.7%. Companies can ask for the Competition Commission to examine the issue, though they could have larger cuts imposed. Companies are also referred to the commission if they carry out mergers, so have an incentive to carry on with planned mergers rather than complain about price cuts.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1999
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Water bids blocked: rethink for thwarted buyers
Article Abstract:
Ian Lang, the UK Trade secretary, has blocked two bids for South West Water from Severn Trent and Wessex. Lang's move means that further mergers between water utilities are unlikely. He argued that the industry regulator would be less able to obtain information if the merger took place. Wessex may carry out a share buyback and seek acquisitions in waste management. Severn Trent may also carry out a share buyback and could bid for East Midlands Electricity.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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