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Prokhorov denies rumors of party split

© RIA Novosti . Ilya Pitalev / Go to the photo bankRussian tycoon Mikhail Prokhorov
Russian tycoon Mikhail Prokhorov - Sputnik International
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Russian tycoon Mikhail Prokhorov on Wednesday denied rumors of a split in his Right Cause party.

Russian tycoon Mikhail Prokhorov on Wednesday denied rumors of a split in his Right Cause party.

Several Russian media on Wednesday said that Prokhorov could leave the party by the end of the three-day conference being held ahead of December parliamentary elections, after dissatisfaction in the government with the direction the opposition party is taking.

Prokhorov failed to attend the first day of the party's three-day congress. His absence surprised party members who elected the mandate and accounting commissions without him. But Prokhorov said he would not quit as the leader of the Right Cause party despite speculation.

"There is no split in the party," he added.

On Wednesday, Prokhorov also dissolved the executive committee of Right Cause.

Prokhorov, 46, ranked by Forbes as Russia's third richest man with a fortune of $18 billion, formally quit business in June to head the Right Cause party. He has said he will stand for president next spring if the party does well in December's parliamentary polls. His proposals on the modernization of Russia have been publically supported by President Dmitry Medvedev.

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