After 3 major telecom companies, CNOOC may also be delisted by NYSE

The New York Stock Exchange issued a statement on New Year’s Day that it will soon begin the process of delisting three Chinese telecommunications companies, China Telecom, China Mobile and China Unicom. Other companies on the U.S. Department of Defense’s list of 35 Chinese Communist military companies are also in jeopardy. Bloomberg reported earlier that CNOOC Ltd. could be next on the list.

Helik Fung, an analyst at Bloomberg Intelligence, noted that CNOOC, which is on the Pentagon’s list of companies owned or controlled by the Chinese Communist Party’s military, is likely to be the most threatened, along with others such as PetroChina Co. Ltd. (China Petroleum and Chemical Corp., Sinopec) may also be threatened.

Steven Leung, managing executive director of UOB Kay Hian (Hong Kong) Ltd. noted, “More Chinese companies could be delisted in the U.S., and the oil giant could be the next wave.