Italy's Berlusconi says will not stand again

ROME (AFP) - Italy's Silvio Berlusconi said on Wednesday that he would not run in elections early next year and hand his People of Freedom party over to a successor, ending months of uncertainty over his candidacy.

"I will not be presenting my candidacy but I will remain at the side of younger people who can play and score goals," said the media magnate, who founded the party in 2009 and is famous for talking politics in football terms.

The 76-year-old tycoon, who owns AC Milan football club and three national television channels as well as several private villas, said in a statement that his successor would be appointed by the end of December following a party vote.

"I still have good muscles and a head on my shoulders, but my role will be to give advice," he said, adding that the vote may take place on Dec 16.