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Georgia 'Terminates' Opposition Tycoon's Citizenship


Georgia billionaire Bidzina Ivanishvili

Georgia billionaire Bidzina Ivanishvili

Georgia has revoked the citizenship of a billionaire tycoon, undermining his bid to form a political party and participate in parliamentary elections.

Georgia's Public Registry Agency said in a statement that Bidzina Ivanishvili's Georgian citizenship had become invalid because he has also taken French citizenship.

The agency did not specify when the decision was made to "terminate" his Georgian citizenship.

Ivanishvili is one of Georgia's richest men, with a fortune estimated at $5.5 billion by "Forbes" magazine.

Last week, he said he planned to form a political party to challenge President Mikheil Saakashvili in parliamentary polls scheduled for next year.

compiled from agency reports

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