Markets

NYSE Starts Delisting 3 Chinese Telco Giants To Comply With Trump Executive Order

(RTTNews) - The New York Stock Exchange said it has started proceedings to delist the securities of three Chinese telecommunications companies in order to comply with a U.S. executive order that imposed restrictions on companies identified as affiliated with the Chinese military.

China Mobile Ltd., China Telecom Corp Ltd., China Unicom Hong Kong Ltd. will be suspended from trading between January 7 and January 11, the NYSE said.

The companies have a right to a review of determination by a Committee of the Board of Directors of the Exchange. The NYSE will apply to the Securities and Exchange Commission to delist the Issuers and securities upon completion of all applicable procedures, including any potential appeals.

All three companies are also listed in Hong Kong.

U.S. President Donald Trump signed an executive order in November that prohibited U.S. investors from buying and selling shares in a list of Chinese companies designated by the U.S. as having military ties.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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