Early in 2022, French water giant Veolia completed a hostile takeover of most of the assets of its French rival Suez.  This culminated a protracted battle involving the French government, financiers, lawyers, lobbying groups, public relations firms and more.  The report details the actors, the strategies and the implications for the water sector.  The report should be used by activists campaigning to stop water privatisation.  It is also a useful signal to what we can expect with the growing climate funds, which are also used for privatisation.