Almost no countries objected to British mediation, except Russia.
The Austrian Empire's main reason for declaring war on the Ottomans was actually to make peace with Britain. After all, belligerent nations had no reason to accept mediation.
The British understood this well. Most people in British politics did not want to continue a pointless, ruinously expensive war.
Still, the two sides inevitably haggled over the terms. The main issues were ownership of the Maltese archipelago and Cyprus, and the transfer of ships captured by either side.
The British naturally wanted everything. Franz had little attachment to the spoils, either, but there was no point appealing to the sentiment of a country like Britain, so he went straight to negotiating a price.
The Austrian Empire demanded 1.5 billion florins. The British naturally could not accept such a figure, but by then they could no longer afford to drag things out.
So Franz laid out his demands:
First, all hostilities against the Austrian Empire must cease. All acts of piracy must be stopped, and the Austrian Empire would have the right to deal with any Briton who committed piracy against it.
Second, Patagonia must be recognized as Austrian territory, and all British expatriates must leave before October 1849. (In reality, there were only a few dozen of them.)
Third, Britain must not continue to occupy the German Confederation's colonies in southern Africa, and must recognize the Tswana region as German Confederation territory. Texas must also be recognized as a German Confederation colony in North America.
(The Tswana region was, in fact, what is now Botswana.)
Fourth, Britain must compensate the Austrian Empire for its losses and pay ransom fees totaling 35 million pounds sterling, of which 20 million must be paid immediately, with the rest repaid within ten years.
Fifth, Austria and