The New York Stock Exchange said it no longer intends to remove from the list of listed shares of the three Chinese telecommunications giants, which have become the target of the outgoing administration of the US President. The announcement of the delisting plans was made last week and caused the share price of these companies to fall.
On Thursday, the exchange said it would delist China Mobile Ltd, China Telecom Corp Ltd and China Unicom Hong Kong Ltd. This was done on the basis of a US government decision banning US investments in 35 firms that the Commerce Department claims are owned or controlled by the Chinese military.
The Chinese Foreign Ministry called the planned delisting of the three companies “unreasonable” and condemned the “randomness, arbitrariness and uncertainty” of the US rules of the game.
The exchange said in a statement that the new decision was made “in the light of further consultations with the relevant regulatory authorities.”
Following this announcement, shares of the above listed companies on the Hong Kong Stock Exchange increased: shares of China Unicom gained 6.7%, shares of China Mobile and China Telecom – 5% each.
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