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News: RWE

German water utility RWE has declared it is to compete with rival French groups Lyonnaise and Vivendi after successfully bidding for UK water and sewerage firm Thames Water. Thames, bought for £4.2bn, with £2.46bn of debt, is the most active of the UK's utilities overseas. RWE is to form a new London-based company fronted by Thames Water chief executive Bill Alexander.

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