TORONTO (Reuters) - Canadian telecom services provider Mitel Networks Corp (>> Mitel Networks Corporation) said on Monday it has withdrawn its bid to buy smaller U.S. peer ShoreTel Inc (>> ShoreTel Inc), after ShoreTel refused to engage in any talks regarding a potential transaction.

Earlier this month, Mitel had raised its bid for ShoreTel by some $34 million to about $574 million, in an attempt to spur ShoreTel into discussions.

(Reporting by Euan Rocha; Editing by Bernadette Baum)

Stocks treated in this article : ShoreTel Inc, Mitel Networks Corporation