NYSE reverses decision on delisting 3 Chinese telecoms
The New York Stock Exchange said it will no longer delist three major Chinese telecommunications companies the Trump administration said were connected to the Asian nation’s military. The exchange made the announcement late Monday in a statement saying the decision was made “in light of further consultation with relevant regulatory authorities.” On Thursday, the exchange announced it would be removing American depositary shares of China Telecom Corporation, China Mobile and Hong Kong-based China United Network Communications Group on Jan. 11 following President Donald Trump in November signing an executive order banning Americans from investing in Chinese military-controlled companies. Shares of all three companies sank on Monday following the New Year’s Eve decision by the NYSE. (UI News)
About Post Author
