The New York Stock Exchange (NYSE) on Monday reversed its decision to delist three Chinese companies in the telecom sector.
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The New York Stock Exchange (NYSE) on Monday reversed its decision to remove from the listing three Chinese companies in the telecoms sector, after “extensive consultations with the relevant regulatory authorities.”
The New York Stock Exchange announced Friday the upcoming withdrawal of China Mobile Communications, China Telecommunications Corp and China Unicom (Hong Kong) Limited, three companies controlled by the Chinese government that are also listed on the Hong Kong Stock Exchange.
The NYSE’s initial decision was taken in accordance with a US presidential decree of November 12, banning transactions in companies accused of being involved in the development of the Chinese military complex.
The securities of the three groups are traded in the United States in the form of “ADR”, American Depositary Shares, securities allocated to foreign companies wishing to access Wall Street.
The administration of US President Donald Trump and Beijing have been engaged for several years in a merciless battle on the economic and technological front, with punitive customs taxes and blacklists that have affected the telecoms giant Huawei and the application in particular. ultra-popular TikTok.
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