[UPDATED] Bidzina Ivanishvili's Gazprom Ties Are Expensive But Useful For Putin

 @ErinBancoe.banco@ibtimes.com on May 06 2014 7:03 PM
Ivanishvili
With only about a quarter of the votes counted so far, opposition coalition Georgian Dreams, lead by Bidzina Ivanishvili, is expected to take over the parliament in the first democratic transfer of power since this former Soviet republic gained independence more than two decades ago. Reuters

UPDATE: The International Business Times has removed this story in light of facts that came to light following publication. We initially reported the story on the stock portfolio of former Georgian Prime Minister Bidzina Ivanishvili while relying on the accounts of people who claimed general knowledge of his holdings. More detailed information became available subsequent to publication that undercut the thrust of the story. For that reason, we have removed the article from our site while specifically acknowledging the following corrections: The published version of this story stated that Ivanishvili was given shares in Gazprom and may have sold his shares in Gazprom, together with other holdings in Russian companies, prior to his election as prime minister of Georgia. In fact, Ivanishvili bought his shares in Gazprom on the open market, and then sold his 1 percent stake in Gazprom on the open market in 2007.  The published article stated that Washington lobbying firms Ivanishvili has hired to represent his interests had previously worked closely with the Russian government.  In fact, none of the firms that represented Ivanishvili have worked for the Russian government.

Join the Discussion