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Thistle rumours spark BIL shares hike

27 August 2004
Thistle rumours spark BIL shares hike

Rumours of an imminent reorganisation of Thistle Hotels in the UK boosted shares in its Singaporean owner BIL International last week.

While the Singapore stock exchange was in the doldrums, BIL recorded a 5% increase in its share price, sparking rumours that it was about to announce some major developments within its UK hotel business.

BIL could not explain the recent rise in stocks but said Thistle was always exploring opportunities for portfolio enhancement.

Thistle is understood to be very close to signing a deal to take over management of the Cumberland hotel on London's Marble Arch - there could be an announcement early next week.

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