Thames Water bosses expect a turnaround of the troubled company to take at least a decade - Jason Alden/Bloomberg A group of Thames Water creditors is prepared to effectively write off £7.5bn of debt in a bid to avoid nationalisation. The consortium has proposed a turnaround plan that would cancel around a third of Thames Water’s near-£20bn debt pile and commit the group to investing in the company. Outstanding fines would be paid – but the investor group, dubbed London & Valley Water, would also seek l ...