Three Chinese telecom companies to be delisted by NYSE
Add BT as a preferred source[BOSTON] Three Chinese telecommunications companies said on Friday they will be delisted by the New York Stock Exchange (NYSE) in line with US investment restrictions dating to last year.
In separate announcements earlier on Friday, China Mobile Ltd; China Unicom and China Telecom Corp said they expect the NYSE to notify regulators of their delistings after the companies unsuccessfully appealed the move.
A NYSE spokesperson declined to comment.
The delistings stem from investment restrictions put in place by former US President Donald Trump targeting Chinese technology firms.
President Joe Biden has left the rules in place amid continuing tensions between the world's two largest economies, despite objections from businesses.
The companies said their delistings will be effective 10 days after the exchange files a Form 25 to the US Securities and Exchange Commission.
Navigate Asia in
a new global order
Get the insights delivered to your inbox.
REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
