Chinese state-backed banks to determine fate of Thames Water [Yahoo! Finance]
BANK OF CHINA UNSP/ADR (BACHY)
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Source: Yahoo! Finance
A consortium of lenders to Thames Water's parent company Kemble is made up entirely of foreign banks, including the Bank of China and the Industrial and Commercial Bank of China – both of which are owned and controlled by the Chinese state. Dutch bank ING and Allied Irish Bank are also part of the creditor group. The revelations will prompt fresh fears about Thames's future amid concerns over China's involvement in critical British infrastructure. Last year the UK intervened eight times to block, reverse or impose conditions on takeovers that involved Chinese buyers under the National Security and Investment Act. It also comes just days after a Chinese government-backed cyber campaign against British MPs was uncovered, alongside attempts to access the data of millions of UK voters. Tim Loughton, a Tory MP who is one of five politicians sanctioned by China in 2021, said: “This is another worrying aspect of the global reach of China's financial institutions. “It's very unheal
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