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NYSE starts process of delisting 3 Chinese telecom companies after Trump order

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The New York Stock Exchange is starting the process of delisting securities of three Chinese telecom companies, after President Donald Trump last month barred U.S. investments in Chinese firms Washington says are owned or controlled by the military.

, which will limit U.S. investor access, follows global index providers MSCI Inc, S&P Dow Jones Indices and FTSE Russell and Nasdaq deleting various Chinese companies from their indexes.

NYSE said that the issuers, China Telecom Corporation Limited, China Mobile Limited and China Unicom Limited, were no longer suitable for listing as the order prohibits any transactions in securities "designed to provide investment exposure to such securities, of any Communist Chinese military company, by any United States person."The order sought to give teeth to a 1999 law that mandated that the Department of Defense compile a list of Chinese military companies.

NYSE said that it would suspend trading in the stocks on either Jan. 7 or Jan. 11. The issuers have a right to a review of the decision. Each of the telecoms companies named by the NYSE also has a listing in Hong Kong.

 

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In flip-flop, NYSE will delist 3 Chinese companies after allThe New York Stock Exchange is going ahead with plans to delist shares of three Chinese state-owned phone carriers under an executive order from U.S. President Donald Trump, reversing course just days after saying they wouldn't be delisted. I guess SenatorLoeffler has to pay her vig. Like China Mobile? The ones the Liberals handed Canadian tax dollars to.
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In flip-flop, NYSE will delist 3 Chinese companies after allThe New York Stock Exchange is going ahead with plans to delist shares of three Chinese state-owned phone carriers under an executive order from U.S. President Donald Trump, reversing course just days after saying they wouldn't be delisted. I guess SenatorLoeffler has to pay her vig. Like China Mobile? The ones the Liberals handed Canadian tax dollars to.
Source: CTVNews - 🏆 1. / 99 Read more »