HBOS, the UK bank, has emerged as a backer for a potential £938m (€1.3bn) bid for AWG, the UK water company - just one day before the deadline for any offer.

The bank is thought to have been interested in the asset for some time, and has agreed to support Bream Investments, a potential bidder. WestLB, the German bank, publicly withdrew its support for any offer from Bream last week.

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HBOS backs potential AWG offer

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