Former commerce minister Billon concedes defeat to Ouattara in Ivory Coast election

Former Ivory Coast commerce minister Jean-Louis Billon on Sunday conceded defeat to incumbent Alassane Ouattara in the presidential election, he said in a statement, as partial results showed Ouattara with a large lead in many localities.

Billon was one of four opposition candidates challenging Ouattara, a former deputy managing director of the International Monetary Fund who is seeking re-election to a fourth term.

Billon tried and failed to get the backing of the opposition PDCI party, which is led by Tidjane Thiam, the former CEO of Credit Suisse who was ruled ineligible for Saturday's election in the world's biggest cocoa producer.

"The initial results place the incumbent President, Mr Alassane Ouattara, in the lead, designating him the winner of this presidential election," Billon said in his statement, offering congratulations to Ouattara, who is 83.

Ouattara is the heavy favourite in the contest which unfolded without major disruption.

Provisional results are expected within five days.