Orbán-Era Business ‘Mothership’ 4iG Under Scrutiny
14 Articles
14 Articles
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 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...
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.
The 4iG Group is cooperating with the investigations initiated by the government, the company said. In our statement, they emphasized that they are convinced that their cooperation with the Hungarian state is taking place in a framework that is regular, fair and beneficial to the Hungarian people.
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