Hungarian Government to Review Contracts with IT and Telecoms Company 4iG

Hungarian Prime Minister Peter Magyar announced that his government will review contracts signed between the state and the IT and telecoms company 4iG during the previous administration. This news led to a sharp decline of over 11% in 4iG's shares. The review will include a framework deal worth more than 1.3 trillion forints ($4.2 billion) signed between 4iG and the defense ministry weeks before the April elections.