Hungary to review 4iG state contracts signed under Orban

Details: Manny Pham; Category: Operators; 18 August 2026; 942 views

Hungarian Prime Minister Peter Magyar has ordered a review of state contracts with telecoms and technology group 4iG that were signed under his predecessor, Viktor Orban, putting one of the country's most prominent corporate groups under scrutiny.

The announcement sent 4iG shares down more than 11%, marking the company's biggest single-day decline since Magyar won April's election, Reuters reported.

Magyar said on Facebook that the government had ordered a review of all its contracts with 4iG, with the findings to be made public and any irregularities referred to the relevant authorities.

The review includes a framework agreement worth more than HUF 1.3 trillion (around US$4.2 billion) between 4iG and Hungary's Defence Ministry, which was finalised just weeks before the election, Reuters reported.

4iG has expanded significantly under the Orban government, building a major presence across telecoms, IT, defence and satellite services. Its telecoms operations include Hungarian operator One Hungary, while its expansion into strategic industries has included acquisitions and partnerships in the defence and space sectors.

The group has also become increasingly involved in state-backed strategic projects, including a defence holding company established with the Hungarian state.

The review comes as Magyar's new government moves to examine spending and business arrangements made during Orban's 16-year rule, particularly those involving companies that expanded through state contracts.