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| Mitt Romney will not run in 2016 election | |
| (35 minutes later) | |
| Mitt Romney, the Republican beaten by President Obama in the US 2012 election, has decided he will not run for president again. | Mitt Romney, the Republican beaten by President Obama in the US 2012 election, has decided he will not run for president again. |
| Mr Romney, 67, said he had decided it was "best to give other leaders in the party the opportunity to become our next nominee". | |
| His statement comes weeks after a surprise announcement saying he was considering another bid. | His statement comes weeks after a surprise announcement saying he was considering another bid. |
| The decision not to run frees up donors to support other Republican candidates. | |
| Former Florida Governor Jeb Bush, New Jersey Governor Chris Christie and Senator Rand Paul are among those who are considering a White House bid. | |
| Mr Romney's campaign raised more than $1bn (£666m) in the 2012 election, when he unsuccessfully challenged President Obama. | |
| He also lost the 2008 Republican presidential nomination to Senator John McCain. | |
| 2016 runners and riders | |
| No-one has formally declared but these are some of the names to watch: | |
| In a statement made during a phone call to donors, Mr Romney said he was "convinced that we could win the nomination", but added that "one of our next generation of Republican leaders... may well emerge as being better able to defeat the Democrat nominee". | |
| Mr Romney reportedly discovered after floating a potential run three weeks ago that several his key fundraisers had decided to support Mr Bush, according to the Associated Press news agency. | |
| Jeb Bush - the son of a former president and brother of another - announced in December he was "exploring" a run. |