Loss came after decision to write off 8.7% equity stake in water company moving closer towards nationalisation

The BT pension scheme lost £300m after writing off its holding in Thames Water, the UK’s largest water company that is buckling under a £20bn debt pile.

The loss came after the telecoms company’s decision to write off its 8.7% equity stake in Thames in 2024, according to a presentation to analysts captured in a video, in news first reported by the Financial Times.