NYSE says no longer intends to delist 3 Chinese telecom players

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New York, Jan 5 (IANS) The New York Stock Exchange (NYSE) will no longer intend to move forward with the delisting of three Chinese telecommunication companies’ shares, said the NYSE late on Monday.

“At this time, the issuers will continue to be listed and traded on the NYSE,” the NYSE said in a statement, citing the Chinese firms as China Telecom Corporation Limited, China Mobile Limited and China Unicom (Hong Kong) Limited.

Meanwhile, the NYSE Regulation division will continue to evaluate the applicability of a federal government’s executive order to the issuers and their continued listing status, said the NYSE.

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The NYSE said last week that it has started the process of delisting the American Depositary Shares (ADSs) issued by the three telecom firms, invoking an executive order signed in November 2020.

Chinese Foreign Ministry spokesperson Hua Chunying said on Monday that China firmly opposes the United States’ acts of politicizing economic and trade issues and abusing its state power and the concept of national security to groundlessly suppress Chinese companies.

“Such acts have seriously breached the U.S. much-touted principles of market economy and fair competition, as well as international economic and trade rules,” Hua said.

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She urged Washington to respect the market and the rule of law, and do more to maintain the order of the global financial market, protect the legitimate rights and interests of investors, and contribute to the stable development of the global economy.

–IANS

na/

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