Bidders line up for stricken Thames Water

Thames Water has received multiple bids for the struggling business which has warned that it could run out of cash by next year.

Castle Water, a Scottish utility firm co-owned by Conservative Party treasurer Graham Edwards, is understood to have made an offer for Thames Water ahead of a deadline for potential investors next Thursday.

Infrastructure investor Covalis, supported by French firm Suez, had also reportedly thrown its hat in the ring, in a deal which could lead to the break-up of the debt-ridden water giant.

Thames is the UK's biggest water company and one in four people in the UK rely on the firm for their supply.