Oxfordshire's water supplier Thames Water looks set to be sold to an Australian banking group in an £8bn deal.
Thames' German owner, RWE, announced this morning it had set up the deal with Macquarie.
Its management deal has agreed the plan but it is subject to approval by the board of directors and competition authorities.
Thames Water, heavily criticised recently for its leakage record, is still operating a hosepipe ban in Oxfordshire.
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