Michael Bloomberg may stand as Mayor of London

Former New York City Mayor Michael Bloomberg may participate in the next election for the mayor of London, which will be held in May 2016.

A number of influential British Conservative Party members have been attempting to persuade Bloomberg to take part in the election race, particularly Steve Hilton, a close adviser to British Prime Minister David Cameron.

"It would be nice if Bloomberg became mayor of London. A pragmatic leader aimed at solving the problems is needed in this city," the New York Post newspaper quoted him as saying.