Thames Water’s biggest shareholder has cut the valuation of its stake by almost 30 per cent, raising fresh questions over future investment in Britain’s biggest water company.

A Singapore-based vehicle of the Ontario Municipal Employees Retirement System, which owns 31.8 per cent of Thames, reduced the value put on its stake in parent company Kemble Water by almost 30 per cent last year. Omers Farmoor Singapore PTE wrote down the valuation of its holding to about £700 million from about £979 million at the end of 2021, the Financial Times reported, citing corporate filings.

Read the full story here.