Vazquez Rana said he may drop his UPI bid.
The Mexican newspaper publisher threatened to drop his bid to acquire United Press International if a court failed to approve a provisional agreement for him to take over immediate operational control of the news agency. A lawyer for Mario Vazquez Rana told a bankruptcy court that Vazquez Rana and his minority partner, Texas real estate developer Joe Russo, would withdraw their $41-million offer if a provisional agreement was not approved.
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