LONDON (Reuters) - Qatar's state-owned investment fund has teamed up with Swiss banking group UBS to bid for Thames Water, Britain's largest water and waste group, the Financial Times reported on its Web site on Thursday.

Thames Water is owned by German utility RWE AG which plans to float or sell the utility.

UBS will use its Global Infrastructure fund, launched in May, to provide part of the financing for the deal which could value Thames Water at up to 7 billion pounds ($13.1 billion), the FT said.

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Posted by rjorr at August 3, 2006 4:21 PM