Orban-Backed Firm Surges on Hungary Defense Privatization Plan

Hungary plans to privatize prime defense assets belonging to a state-owned holding company, handing another slice of the economy to a company backed by Prime Minister Viktor Orban.

Shares in 4iG Nyrt., which has amassed a wide array of holdings under the nationalist leader’s rule, jumped after the announcement that it would absorb stakes from Hungary’s N7 military holding. These include ownership in local units of defense firms such as Rheinmetall AG and Airbus Helicopters.

Orban has groomed 4iG into a national champion in the telecommunication industry, selling critical state infrastructure to the company and helping it ...