CAMPBELL CLARK and BRIAN LAGHI Globe and Mail
OTTAWA — Former Ontario premier Bob Rae is bowing out of the Liberal leadership, leaving Michael Ignatieff to take hold of the party's reins before Parliament resumes in the new year. CTV News and The Canadian Press reported Tuesday morning that Mr. Rae told confidantes during a teleconference call that he is withdrawing from the race. A press conference is scheduled for 3 p.m. ET. It now rests with the party executive to find a way to install Mr. Ignatieff that meets with the approval of the majority of Liberal party members.
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