Chinese Telecoms Press NYSE to Reconsider Delisting(Yicai Global) Jan. 21 -- China’s three main telecoms companies asked the New York Stock Exchange to review its decision to delist their shares in compliance with an executive order issued by former US President Donald Trump.
China Telecom, China Mobile and China Unicom filed written petitions with the NYSE yesterday, according to separate filings today with the Hong Kong Stock Exchange where they are also listed.
The NYSE moved to delist the three firms after a Nov. 12 executive order barred US investment in companies considered to have links with China’s military.
China Unicom [HKG: 0762] slid 1.8 percent to HKD4.88 (63 US cents) in Hong Kong today, while China Telecom [HKG: 0728] fell 1.7 percent to HKD2.29. China Mobile [HKG: 0941] ended little changed at HKD48.95, off 0.1 percent.
The re-examination will be slated for at least 25 business days from the date of the application. The trio cautioned investors that there is no guarantee that the NYSE will grant their request.
Editor: Ben Armour
