Slovak Defense Contractor CSG Loses Half Its Value Amid Ammunition Trading Allegations

CSG, a Slovak defense company owned by businessman Jaroslav Strnad, has lost half of its stock market value since its initial public offering following a damaging report alleging involvement in old ammunition trading. The report has significant implications for Defense Minister Robert Kaliňák, who has faced scrutiny over his connections to the defense industry. CSG's dramatic stock decline reflects investor concerns about the company's business practices and potential regulatory challenges. The allegations come at a sensitive time for Slovakia's defense sector, which has been under increased attention due to the country's military support for Ukraine and broader European security concerns.