The manager of the New York Stock Exchange, New York Stock Exchange (NYSE), has reversed its decision to expel from the US market the Chinese state operators China Mobile, China Telecom and China Unicom, which will thus be able to continue trading on the New York parquet. “Following further consultation with relevant regulatory authorities, the NYSE announces that it no longer intends to proceed with the delisting of the three issuers that was announced on December 31, 2020,” the entity announced.
According to the original decision, taken in compliance with the executive order promulgated by President Trump last November that prohibits American companies and individuals from investing in companies allegedly linked to the Chinese military, the exclusion of the three Chinese operators would take place this Thursday, although the companies had the right to appeal the measure.
The China Securities Regulatory Commission had criticized that the executive order was based on “political purposes”, completely ignoring the real situation of the relevant companies and the legitimate rights of investors, seriously damaging the rules and order of the market. . In separate statements, China Unicom and China Telecom indicated that they will continue to “monitor the development of the situation.”
Shares of China Unicom have risen 8.50% on the Hong Kong Stock Exchange following the NYSE announcement, while shares of China Mobile rose 5.13% and those of China Telecom 3, 35%.