U.S. Republican Mitt Romney who lost to President Barack Obama in 2012 elections has decided that he will not run for president in 2016.
According to BBC, Romney said that it was best to give other Republican leaders the opportunity to become the next nominee.
Romney earlier said that he was considering another bid.
Former Florida Governor Jeb Bush, New Jersey Governor Chris Christie and Senator Rand Paul are considering the White House bid.
Former Secretary of State Hillary Clinton is the presumed front-runner on the Democratic side. However, there has been no official announcement about campaigning.
