NYSE withdraws plans to delist 3 Chinese telcos

Beijing, January 5

The New York Stock Exchange has withdrawn plans to delist shares of three Chinese state-owned phone carriers. The shares were to be removed under an order from President Donald Trump, a move Beijing had warned might lead to retaliation.

The exchange cited “further consultation” with regulators but its announcement late Monday gave no other details.

China’s foreign ministry on Tuesday criticised Washington for “suppressing foreign companies” but made no direct comment on the NYSE announcement.

The NYSE said Thursday it would remove China Telecom Corp. Ltd., China Mobile Ltd. and China Unicom Hong Kong Ltd. under Trump’s November order barring Americans from investing in securities issued by companies deemed to be linked to the Chinese military.

The order added to mounting US-Chinese tension over technology, security and spying accusations. — AP