Water firms sold in £1.2bn deal

Three water businesses owned by France's Veolia and serving more than 3.5 million people have been sold in a deal worth £1.2 billion.

Veolia Water's Central, Southeast and East businesses, which cover towns including St Albans, Dover, Woking and Harwich, are to be sold to an infrastructure fund managed by Prudential-owned M&G and Morgan Stanley.