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Georgian Business Tycoon: “I Don’t Have Shares in Georgian Companies”

Published: June 23, 2012 | 1:48 pm
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Ivanishvili Refuses to Pay Penalty

Bidzina Ivanishvili, Georgian business tycoon, the leader of the Georgian Dream opposition coalition, who has been fined with GEL 75 million but refuses to pay, says he doesn’t own shares in any Georgian companies.

Georgian business tycoon said he does not anymore own shares in Georgian companies. “I don’t have shares in Georgian companies. I handed over my last shares in Cartu Bank to my son Uta,” he stated.

A company co-owned by the tycoon’s brother was giving away the dishes for free to boost the client base of Ivanishvili’s opposition TV station, which the authorities see as an election bribe.

“The penalty has nothing to do with the law,” Ivanishvili told media on June 21after the meeting with representatives of the diplomatic corps.

Billionaire tycoon Bidzina Ivanishvili’s opposition coalition said the government was trying to keep national television free of dissent ahead of the vote by impounding dishes during police raids in Tbilisi and several provincial towns on June 21.

“The aim of the authorities is to maintain the information vacuum which has been made possible through government control of the federal TV companies,” the Georgian Dream coalition said in a statement.

Georgian authorities commented on the legislative initiative voiced at the parliament on June 21, according to which all cable broadcasters will be obliged to broadcast all licensed televisions.

David Bakradze, Chairman of the Georgian Parliament, said the arrest of the satellite antennas of the Global TV Company was a legal act against vote-buying. “The clear idea of the initiative is to give all televisions an opportunity to cover whole territory of Georgia via all cable television providers. This is a mean, which will enable all televisions or political organizations to deliver their ideas to spectators and voters without obstructions.” He stated.

As of March 2012, with Net Worth $6.4 B Ivanishvili ranks 153 on Forbes World’s Billionaires List.




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