BIL International, the Singapore holding company that has made a £627m (€900m) offer for Thistle Hotels in the UK, is under investigation by the Singapore stock exchange over a leap in the volume of trading in its shares.
More than nine million BIL shares, worth around S$4.5m (€2.3m), changed hands on Wednesday, well above the one million typically traded through the exchange. The previous three days also saw an above-average level of activity.