4iG Shares in Freefall After Hungarian Government Launches Sweeping Review of State Ties
4iG said it will provide documents as officials examine contracts tied to state financing and acquisitions that helped fuel its rapid expansion.
- Prime Minister Peter Magyar announced on Monday that the Hungarian Government ordered a comprehensive review of 4iG's state contracts; the company's shares dropped 14.52 per cent on Monday and fell further on Tuesday.
- Magyar described 4iG as the "mothership" of NER companies that benefited from large state contracts under the former Fidesz-KDNP administration. He alleged the group served as general contractor for an "overpriced" programme supplying elderly people with remote medical alert bracelets.
- The group won state IT contracts "in the billions" during the 2010s before "switching into a much higher gear" from 2022. By 2025, 4iG reported revenue of HUF 733.9 billion and EBITDA of HUF 275 billion.
- In a statement on Tuesday, 4iG pledged to cooperate with the probe, asserting its cooperation with the state of Hungary "complies with regulations and is fair and advantageous for Hungarians." The group promised to provide all necessary documents for objective assessment.
- Having consolidated its domestic position, 4iG has turned toward international expansion, completing a $100 million investment in Axiom Space by early 2026. The group collaborated with Israel Aerospace Industries on restructuring SpaceCom to market defence and space technologies globally.
16 Articles
16 Articles
Hungarian Conservative
ussanews.com4iG Pledges Cooperation as Government Reviews State-Related Contracts
The 4iG Group will cooperate with investigations launched by the Hungarian government into its state-related contracts, the company said on Tuesday. The group said it was convinced that its cooperation with the Hungarian state had always taken place within lawful, fair, and mutually beneficial frameworks. Prime Minister Péter Magyar announced on Monday that the government would review all state-related contracts involving the 4iG group and seek …
Orbán-era business ‘mothership’ 4iG under scrutiny
The Government has ordered a comprehensive review of 4iG’s contracts with the state, Prime Minister Péter Magyar said in a Facebook post on Monday. Unusual in Hungary for combining telecommunications, IT, digital infrastructure, space and defence under a single corporate umbrella, 4iG has expanded internationally while its space and defence activities have become a major strategic pillar, making it one of the country’s most diversified technolog…
4iG shares in freefall after Hungarian government launches sweeping review of state ties
Peter Magyar's government is reviewing 4iG’s ownership, financing and contractual ties with the state, putting the telecoms and defence group’s rapid expansion under the previous Orbán governments under scrutiny.
On Friday evening, a government decision revealed that the cabinet would launch a comprehensive investigation into the relationship between the Hungarian State and the 4iG Group, and on Monday afternoon, Prime Minister Péter Magyar also announced the review. The price of 4iG fell by more than 5 percent on the Budapest Stock Exchange on Monday morning following the news of the investigation, as investors were first able to react to the news of th…
The government's announcement on Friday evening has just reached the stock market, and Gellért Jászai's company lost more than 5 percent of its value this morning.
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