Hedge fund Kintbury takes short position in BT

By Nell Mackenzie

LONDON (Reuters) -Ex Millennium trader and founder of hedge fund Kintbury Capital, Chris Dale, says he is short British telecommunications company BT.

Dale told attendees at the Sohn conference in London that the debt levels of the company were rising and its decision to reinstate dividends would cost the company. Dale entered short positions on Oct. 27 and on Nov. 30, according to the FCA register.

“We are confident that we can support our progressive dividend and that we will see a material uplift in our cash flow once our peak full fibre build is completed in December 2026,” a statement from BT said in response to the report.

(Reporting by Nell MackenzieEditing by Mark Potter)