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Qatar Airways reverses decision to buy into American Airlines

NEW YORK, Aug 2 (Reuters) - Qatar Airways will not proceed with its proposed financial investment in American Airlines , reversing an earlier decision to build a stake of up to 4.75 percent in the U.S. carrier, the state-owned airline said in a statement.

"Further review of the proposed financial investment, taking into account the latest public disclosure of American Airlines, has demonstrated that the investment no longer meets our objectives," Qatar Airways said. (Reporting by Alana Wise, Editing by Franklin Paul)