British businesses face uncertainty over regulatory decisions, deals and restructuring processes after a national election was announced for July 4 by Prime Minister Rishi Sunak.
British businesses face uncertainty over regulatory decisions, deals and restructuring processes after a national election was announced for July 4 by Prime Minister Rishi Sunak.
Here is a list of corporate and regulatory issues at stake:
DEBT/RESTRUCTURING
* THAMES WATER: Britain's biggest water utility Thames Water faces potential nationalisation after shareholders reneged on a promise to plough in new equity, putting the company's finances and future at risk.
The utility is struggling under a 15 billion pound ($19.10 billion) debt pile and a worsening environmental record.
It wants water regulator Ofwat to allow it to raise customers' bills by 40% to fund investment and had until June 12 to win approval for that plan.
Ofwat is now considering pre-election protocols and guidance for its price review 2024 schedule, which may lead to a delay.
SHARE SALE BY UK GOVT
* NATWEST: Britain's finance ministry said it was "working through internal due process" in a statement to Reuters on Thursday when asked to clarify the possible impact of the sooner-than-anticipated election on the government's proposed retail offer in NatWest.
Chancellor Jeremy Hunt and UK Government Investments, the agency that manages Britain's holding in NatWest, were planning the sale to jumpstart ambitions to promote wider retail ownership of UK stocks. The government's stake in the bank is worth about 7 billion pounds ($8.90 billion).
DEALS
* IDS/EP Group: Royal Mail owner International Distribution Services said it would recommend a 3.5 billion pound deal from its biggest shareholder Daniel Kretinsky if the Czech billionaire tables a formal offer.
The government's Jeremy Hunt last week said any takeover bid for one of the world's oldest postal companies would be subject to "normal" national security scrutiny but it would not be opposed in principle.
Labour's Shadow Business Secretary, Jonathan Reynolds, had called for safeguards, including that Royal Mail remained domiciled and headquartered in the UK and paid taxes in the country
IPO
* SHEIN: China-founded fast-fashion giant Shein is stepping up preparations for a London listing after its attempt to float itself in New York faced regulatory hurdles and pushback from U.S. lawmakers, Reuters reported last week.
Sky News reported in December, citing sources, that Shein's chairman Donald Tang met executives from the bourse and other stakeholders in the U.K. during a visit to London as he tests the political climate.
ENERGY
* EDF: Britain wants to build a new large-scale nuclear power station in north Wales and has launched talks with international energy companies about building the plant, which requires government approval.
The new plant could generate enough power for six million homes for 60 years, and would be similar in scale to projects underway at Hinkley and Sizewell in England.
REGULATORY
* OFWAT: Britain's water regulator Ofwat is considering pre-election protocols and guidance for its price review 2024 schedule, a spokesperson said on Thursday, which decides the price and service levels the industry must adhere to over the next five years.
* OFCOM: Ofcom is under pressure to speed up reforms to the universal postal service, including proposals by Royal Mail to cut back non-first class deliveries to every other day.
* SMOKING BILL: British Prime Minister Rishi Sunak's plan to ban anyone aged 15 and under from ever buying cigarettes passed its first parliamentary vote in April, although dozens of his own lawmakers voted against it.
* MEDIA BILL: Britain's government outlined plans in March to stop foreign states from owning newspapers.
The government in April said it would allow RedBird IMI to conduct an "orderly transition" after the Abu Dhabi-backed company dropped the proposed buyout of the Telegraph newspaper.
(Compiled by Anchal Rana and Echha Jain in Bengaluru; Editing by Elaine Hardcastle)
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