By SANTIAGO PEREZ

MADRID -- Spain's Abertis Infraestructuras SA decided to pull its $12.8 billion bid for the Pennsylvania Turnpike off the table, dealing a blow to the most ambitious privatization project in the U.S. infrastructure sector, a spokesman for Pennsylvania Gov. Ed Rendell confirmed.

The board of the Spanish infrastructure operator and some of its partners decided to let the cash offer expire by Tuesday's deadline after skeptical Pennsylvanian legislators failed to ratify the proposed toll-road lease.

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Posted by boyang at October 1, 2008 4:48 PM