German utility RWE, which has scheduled a possible float for Thames Water in November, is mulling its options after only three bidders submitted tenders to proceed to the final stage of a sale for the subsidiary.

Deutsche Bank and Goldman Sachs, the investment banks running the sale of Thames Water for the German utility RWE, received three indicative offers for the UK-based water company before a deadline set for noon yesterday.

David Westley in New York

Macquarie Bank

Deutsche Bank

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