New York Stock Exchange Says It Would No Longer Delist Three Chinese Telecommunication Stocks, In Policy About-turn
The New York Stock Exchange backtracked on Tuesday and said it would no longer delist three of China’s biggest telecommunications companies to comply with an executive order that bars trading in companies with ties to China’s military.
The American bourse said it would not move forward with plans to remove the shares of China Mobile, China Telecom and China Unicom from trading in New York following “further consultation” with regulatory authorities.
The NYSE previously said it would delist the company’s shares as soon as Thursday.
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Shares of China Mobile, China Telecom and China Unicom Hong Kong soared on the Hong Kong exchange following the announcement.
More to follow …
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