Miton Income fund manager Eric Moore has increased his weighting to telecom BT Group, on the view a trio of problems for the firm have now been resolved.
The telecom giant has suffered from an Italian accounting crisis which caused shares to fall 20%, an Ofcom review over its Openreach division and competition from smaller players. However, Moore holds 2.2% in the stock in his £196m Income fund. Moore said: "BT has a triple whammy of problems, but we continue to hold it and have added more. The Italian issue was a one-off, it deserves criticism but it should not de-rail the investment case. There is no need to panic or sell the stock because of it and I think it is an area to watch. "The Ofcom review meant a cloud was hanging over the...
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