NYSE reverses decision to delist 3 Chinese telecom giants

In a brief statement, the stock exchange said it "no longer intends to move forward with the delisting action" for China Telecom, China Mobile, and China Unicom.

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The New York Stock Exchange (NYSE) has reversed its decision to delist three Chinese telecoms companies, after consulting with regulatory authorities about a recent US investment ban. In a brief statement, the stock exchange said it “no longer intends to move forward with the delisting action” for China Telecom, China Mobile, and China Unicom.

No detailed reason was given for the sudden reversal but the exchange said it came after “further consultation with relevant regulatory authorities”.Shares in the three state-owned telecoms firms jumped on the news.The reversal comes just four days after the NYSE said it was ending trading in the companies to comply with an order by the Trump administration barring investment in firms with ties to the Chinese military.

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