A China Mobile store in Hong Kong.
Photo:
Roy Liu / Bloomberg News
The New York Stock Exchange overturned its decision to write off China’s three largest telecommunications companies after consulting with regulators over a recent US investment ban.
In a statement released Monday in New York, the Big Board said it “no longer intends to move forward with the delisting action” on China Mobile. Ltd.
CHL -5.89%
, China Telecom Body.
NOT -5.48%
and China Unicom (Hong Kong) Ltd.
CHU -3.17%
The shares listed in Hong Kong of the three major telecommunications companies have risen in the news. Shares of China Mobile, one of China’s most valued listed state-owned enterprises, rose late in trade on Tuesday by 7.5%, while China Telecom and China Unicom rose 8.1% and 11 respectively %.
The NYSE’s previous plan to remove companies followed a U.S. government order signed by President Trump in November that bans Americans from investing in a list of companies under which the U.S. government provides and supports military, intelligence and security services. of China.
The ban was due to begin on January 11, and investors had until November to sell their holdings.
Write to Chong Koh Ping at [email protected] and Ben Otto at [email protected]
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