Following the statements of the elected Hungarian Prime Minister Magyar regarding the investigation of companies that allegedly constituted the pillar of the corrupt system established in Hungary by Viktor Orban, the shares of the 4iG company have lost over 32 percent of their value within a single month.
The company 4iG owns the mobile phone company in Albania, One Telecommunications. 4iG, considered a business of the outgoing Prime Minister Orban, could face legal troubles.
According to data from the Hungarian Stock Exchange, 4iG's share price fell to 2340 forints at the close of trading on Monday, from 3400 a month earlier.
The elected Prime Minister of Hungary has publicly stated that the government will establish a special office, which will track down and confiscate the assets of the so-called NER group, private companies, which allegedly constituted the backbone of the corrupt system in Hungary.
This is also the reason why 4iG shares are plummeting and, compared to their peak at the end of last year, their price has fallen by more than two times.
But the 4iG company itself has defended itself by publicly stating that its activity is built on sound foundations and its contracts with major American arms manufacturers globally, such as Northrop Grumman, offer a guarantee for further growth.
If the new government in Hungary also classifies the money from the purchase of One by 4iG as proceeds from corruption, this could open up other scenarios for the future of One in Albania.
