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For Immediate Release

Contact

Mary Grant, mgrant@fwwatch.org, 410-394-7653

Press Release

Merger of World's Biggest Water Corporations Creates Dangerous Monopoly

"Privatized water systems must revert to public control to ensure safety and affordability."
WASHINGTON -

Today, Veolia announced the acquisition of 29.9% of Suez with a plan to acquire full control, merging the two largest water corporations in the world. As part of the deal, Veolia would spin off the Suez water business in France to Meridiam to avoid French antitrust hurdles, but the corporation will retain control of the water assets in the United States, Spain, and Chile.

In response to the development, Food & Water Action Public Water for All Campaign Director Mary Grant issued the following statement:

"Veolia's global domination of public water services is becoming a terrifying reality. The merger of the world's largest water corporations will erode any semblance of competition for water privatization deals. This lack of competition will lead to unaffordable costs for families, slack maintenance and safety procedures, loss of union jobs, and potentially rampant corruption. Water privatization has been a disaster for communities across the United States and around the world. As the fiscal realities of the Covid crisis begin to set in for struggling municipalities, some may consider selling off their valuable water systems as a short-term solution. But this would create long-term harm. Communities must revert all privatized water and sewer systems to public control to ensure safety and affordability for all."

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Food & Water Watch mobilizes regular people to build political power to move bold and uncompromised solutions to the most pressing food, water, and climate problems of our time. We work to protect people’s health, communities, and democracy from the growing destructive power of the most powerful economic interests.

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