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Georgian Billionaire Scores Surprise Vote Upset Over Saakashvili

Oct. 2 (Bloomberg) -- Georgian President Mikheil Saakashvili said his United National Movement Party will go to opposition after exit polls and partial results showed billionaire Bidzina Ivanishvili’s opposition coalition won the most votes in parliamentary elections.

Saakashvili, who has ruled the country for nine years as president, told reporters and party supporters in Tbilisi today that he respects the decision by voters in yesterday’s balloting.

To contact the reporter on this story: Helena Bedwell in Tbilisi at

To contact the editor responsible for this story: Alan Crosby at

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