Regus, the workspace rental company, has said it will withdraw its £60m bid for MWB Business Exchange, if talks over the offer don’t start by 13 June. Last month, MWB Group, the operator of the Hotel du Vin and Malmaison hotel chains, announced that its offer for MWB Business Exchange, has been recommended, despite its sister company receiving a higher offer from Regus. However, the workstations provider has rejected its rival’s offer in favour of recommending MWB Group’s offer for the existing 28% stake in the company it does not already hold, which values Exchange’s total existing share capital at around £32.7m. Regus said it was reaffirming the seriousness of its offer and that it was disappointed that both Business Exchange’s independent committee and the MWB board had refused to engage in discussions since this development. Last month, the MWB Group reported a widening of pre-tax loss for the final six months of 2010, as it felt the impact of the adverse weather and a “more competitive pricing environment”. The company is currently in discussions with a number of parties regarding the sale and leaseback or outright sale of a number of its hotel assets, as it looks to reduce its debt levels. It is also in negotiations with the Royal Bank of Scotland and Lloyds Banking Group, over the refinancing of £279m of debt secured against its Malmaison and Hotel du Vin chains.