Georgian billionaire Ivanishvili loses French citizenship

Georgian billionaire Bidzina Ivanishvili has officially requested the French Embassy in Georgia to cancel his French citizenship today, RIA Novosti reports.

Ivanishvili cancelled his Russian citizenship on December 26.

The billionaire was not involved in politics and was doing charity work until his announcement on October 5 to take part in parliamentary polls of 2012. He wants to take the power away from the United National Movement.

Georgian President Mikheil Saakashvili signed a decree depriving Ivanishvili and his wife Yekaterina Khvedelidze of Georgian citizenship. The Georgian Justice Ministry said that the citizenship was cancelled due to the billionaire's being a citizen of France and Russia.

Ivanishvili's lawyers said that the citizenship was cancelled to prevent his involvement in politics. The billionaire cancelled his Russian and French citizenships to return the Georgian one.