BIL International, the Singapore holding company, and its adviser, HSBC, have talked down the meagre 0.3% acceptances they attracted for BIL's £555m (€800m) offer for Thistle Hotels, the UK chain.

The hostile bidder said it had expected a similar level of shares to be tendered. It holds just over 45% of Thistle's equity and is looking to take that above 50%.