On Jan. 5, the New York Stock Exchange said it was no longer seeking to delist China Mobile, China Telecom and China Unicom Hong Kong LTD., the country’s top three telecom operators. Shares in all three companies jumped in response. Reuters said the three carriers were targeted by the Trump administration.
The New York Stock Exchange said in a statement today that it was no longer seeking delisting of China’s three largest telecom carriers, China Mobile, China Telecom and China Unicom Hong Kong LTD., “in accordance with further consultations with relevant regulators.”
Nyse announced on Thursday, according to Trump (Donald Trump) in November 2020, signed a bill for any shares in, will start to China Mobile (China Mobile) ˎ China Telecom, China Telecom and China Unicom co., LTD. (China Unicom) Hong Kong delisting delisting procedures. The three Chinese companies have been suspended from trading and are scheduled to be delisted on Monday, January 11, 2021.
An executive order issued by the Trump administration in November 2020 banned US investment in some Chinese companies that Washington says are owned or controlled by the Chinese military and are suspected of using US funds for Chinese military development.
Shares of China Unicom (Hong Kong) Ltd. jumped 6.7% in Hong Kong after the New York Stock Exchange’s latest decision today, while China Mobile and China Telecom both rose 5%, Reuters reported.
China Unicom and China Telecom issued a statement saying they had noticed the situation and would release information in accordance with the regulations, adding that investors should be aware of investment risks.
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