NORTHUMBRIAN WATER has confirmed that it has received a takeover proposal from Hong Kong-based Cheung Kong Infrastructure Holdings (CKI).

Northumbrian said there was "no certainty" that CKI would move ahead with a formal bid CKI is part of the Hong Kong conglomerate Cheung Kong Holdings, which is owned and run by Chinese tycoon Li Ka Shing, the world's 11th richest man. His eldest son, Victor Li is chairman of CKI.

Northumbrian said a further announcement would be made "when appropriate".