NYSE says it’ll now not delist three Chinese language telecom giants

The New York Stock Exchange said it no longer plans to delist three Chinese telecommunications giants.

In a statement late Monday, the NYSE said it dropped the plans after “further consultations with relevant regulators related to the Bureau of Foreign Wealth Control”.

Hong Kong-listed stocks of China Telecom, China Mobile and China Unicom rebounded on news of the reversal.

The announcement comes after the NYSE announced on December 31st that it would delist US custody stocks of China Telecom, China Mobile and China Unicom.

The exchange originally planned to remove these listings to comply with an executive order signed by President Donald Trump in November. The order was intended to prevent American companies and individuals from investing in companies that the Trump administration claimed to have helped the Chinese military.

That ban is slated to go into effect on Monday, just over a week before the inauguration of President-elect Joe Biden.

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