This post is taken from IZULAT blog repost here
New York Stock Exchange or NYSE or the US stock exchange plan to kick
out and delist three Chinese telecommunication companies out of its stock
exchange. These Chinese companies are China Mobile, China Telecom and China
Unicom Hong Kong or China Unicom.The reason for
delisting is that these three telecoms have link to Chinese military as the
news said.
“The New York Stock Exchange will
end trading in the shares of three of China's largest state-owned telecom
companies this month. It says the move is needed to comply with an order
President Donald Trump signed late last year that bans Americans from investing
in firms that the US government suspects are either owned or controlled by the
Chinese military. China Mobile (CHL), China
Telecom (CHA) and China
Unicom (CHU) will
all be suspended from the NYSE by January 11, when the order goes into effect.”(CNN)
“All
three of the telecom companies have traded in New York for many years.
China Mobile, the country's largest telecom company, has been listed on the New
York Stock Exchange since 1997. Rivals China Telecom and China Unicom,
meanwhile, have been trading there since the early 2000s.”(CNN)
However, recently NYSE reverse and
scrapped its decision to delist the three Chinese telecoms.
“The New York Stock Exchange has reversed its decision to kick out three of China's largest state-owned telecom companies. The
exchange said late Monday that it no longer intends to delist the firms after
"further consultation with relevant regulatory authorities," and that
they will continue to be listed and traded on the NYSE "at this
time." The sudden about-face comes just days after the NYSE announced that
it would end trading in the shares of China Mobile (CHL), China
Telecom (CHA),
and China Unicom (CHU) —
a move it said was needed to comply with an order President Donald Trump signed
late last year that bans Americans from investing in firms that the US
government suspects are either owned or controlled by the Chinese military.”(CNN)
“The
New York Stock Exchange said it no longer plans to delist three Chinese
telecommunications giants: China Telecom, China Mobile and China Unicom.”(CNBC)
The
main point : New York Stock Exchange or NYSE will delist three Chinese
telecommunication companies which are China Mobile, China Telecom and China
Unicom in compliance with US president Donald Trump’s order because of their
link to Chinese military but recently, NYSE change its decision to delist the
three telecoms into no longer to delist them
 |
| image from CNBC website |
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