Regus bids for MWB Business Exchange The deal will help Regus - which has 1,500 centres worldwide - to expand its presence in the capital as MWB Business Exchange has 39 business sites providing short-term office space across London. MWB Business Exchange is 75pc owned by MWB Group, the company behind the Malmaison and Hotel du Vin hotel chains that collapsed into administration in November after failing to secure a refinancing of the business. According to previous reports, MWB Group has debts of £47m and the hotels have debts of £230m. MWB Business Exchange was formed in 1996 by MWB, formerly known as the Marylebone Warwick Balfour Group, through the acquisition of five serviced office centres. Deloitte, MWB Group's administrators, said they will put the 75pc stake owned in MWB Business Exchange out to tender for eight weeks after yesterday's offer from Regus to give other suitors the chance to table a higher bid. If a better offer is received, Regus has the option to raise its bid. Regus hinted that there could be job cuts if the takeover of MWB Business Exchange, which employs approximately 500 people, goes ahead. Regus said a review of MWB Business Exchange will "identify duplication and/or potential efficiencies in some areas, including in corporate, operational and support functions; and accordingly result in a reduction in headcount in the combined group." Bankers at NM Rothschild are advising Regus on the deal. MWB Business Exchange shares rose 8¾ to 60¼, while Regus went up 2½ to 107½p.