Russian-born billionaire Arcadi Gaydamak will quit the race for mayor of Jerusalem if former Shas chairman Aryeh Deri runs. Deri's decision hinges on a decision by election officials whether enough time has elapsed since his convictions for fraud and breach of trust.

Deri has argued that the law changing the seven-year waiting period from the end of a sentence came into effect after he was convicted. Under the previous law, the "time-out" period would have ended last year.