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 to recover public funds and assets it considered lost.
In response, 4iG said it had consistently operated in compliance with applicable Hungarian and European Union legislation and had concluded its transactions and contractual relationships in accordance with the necessary corporate governance, legal, and financial controls.
The company said it had consistently sought to ensure that decisions involving the state were lawful, fair, and beneficial to the Hungarian state and, ultimately, the Hungarian public.
4iG said it aimed to build value-generating partnerships with the state by increasing the value and international competitiveness of jointly owned companies through substantial investment while maintaining Hungarian control.
According to the company, jointly owned businesses have been managed with the care expected of a responsible owner and developed through investments designed to increase their market orders and job-creation capacity, and enable them to contribute to the development of local economies.
4iG added that the value of the assets concerned had increased as a result of the group’s organic growth, its own investments and international capital raising. The company described this as a long-term partnership with the state that benefited both sides.
Against this background, 4iG said it would cooperate with the government-initiated investigations, stressing that, as stipulated in the relevant government decision, the transactions should be assessed and conclusions drawn only after the investigations are completed.
The company said that in recent years it had developed significant industrial capabilities and critical infrastructure in telecommunications, the space industry and defence, contributing to the strengthening of Hungary’s digital infrastructure, technological capabilities, and strategic autonomy.
4iG added that international investment institutions had also recognized its operating standards and industrial development. It said professional, fact-based investigations were essential to protect shareholders’ interests and pledged to provide all necessary documents and information to ensure that the authorities had access to all relevant facts.
The group said its business operations and strategic responsibilities remained uninterrupted and that fulfilling its contracts with the state was of key importance from both economic and national security perspectives.
4iG said it would continue operating in accordance with its legal and contractual obligations.
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