TWO former bosses are hoping to buy Mid Kent Water.

The Snodland-based supplier, now owned by the German bank West LB, is one of a number of companies the bank is considering selling.

It has had separate approaches from Keith Tozzi and Neil McDougall, both former Mid Kent chairman.

Although the bank has told them that the utility is not for sale, it has noted their interest and will almost certainly go back to them if and when it finally decides to sell the business.

Industry sources suggest the bank is unlikely to make this decision before the water regulator unveils its approved pricing formula for 2005-2010 in November.

Mid Kent became part of Swan Group, led by Mr Tozzi, several years ago, in a move funded by West LB.

Mr Tozzi had ambitious plans for the company and the water industry, proposing a huge shakeup in water supply in Kent.

But his dream of a single supplier for the county was thwarted by regulatory hurdles and he mounted a campaign to persuade the Government to change the rules.

This came to an abrupt halt when he was surprisingly ousted last year and succeeded by Mr McDougall.

Swan put Mid Kent up for sale last year to clear the way for a bid for Anglian Water Group, but that deal fell through. An Australian bank Macquarie was initially interested but did not proceed.

Mid Kent has since become caught up in the corporate power politics surrounding the controversial investment unit set up by Robin Saunders at West LB. She left the bank in December.

That unit is being slowly broken up through the sale of Pubmaster pubs and the possible future sale of Whyte and Mackay whisky, Odeon cinemas, BoxClever television rentals, and Mid Kent Water.