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S&P Dow Jones to remove ADRs of Chinese telecom companies after NYSE decision

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S&P Dow Jones Indices said on Wednesday it will remove the American Depositary Receipts of three Chinese telecom companies, China Mobile Ltd, China Telecom Corporation Ltd and China Unicom (Hong Kong) Ltd, from its benchmarks.

“S&P DJI’s announcement to move forward with removing the above-referenced ADRs from its indices is due to the New York Stock Exchange’s latest confirmation that the ADRs will be delisted,” it said in an emailed statement.

The flip-flopping highlights the confusion over which firms were included in an executive order issued by President Donald Trump in November barring U.S. persons from investing in publicly traded companies Washington deems to be tied to the Chinese military.

 

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