German utility RWE will start preparations to sell off its subsidiary Thames Water by the end of June after deciding whether to float the British business or dispose of it through a private sale. Last November RWE revealed it would sell Thames Water and American Water to focus on the European electricity and gas markets. Since then, RWE has decided to float American Water but has yet to decide on how to off-load Thames. The possibility of a private sale of Thames Water, which is estimated to be worth up to £8bn, has already attracted interest from potential bidders.