Reneging return offer for summer internship '27?

'28 grad, studying STEM degree at target university (Oxbridge). Just completed spring week in IB at top MM firm and received return offer for summer 2027. However, I really did not love the culture there and think I would prefer a role in S&T (which firm does not offer as an internship). Any advice on declining a return offer or accepting then applying to other opportunities?Thanks

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