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UPDATE 1-Three Chinese telecom companies to be delisted by NYSE

05/07/2021 17:51
UPDATE 1-Three Chinese telecom companies to be delisted by NYSE

Adds context

- Three Chinese telecommunications companies said on Friday they will be delisted by the New York Stock Exchange in line with U.S. investment restrictions dating to last year.

In separate announcements earlier on Friday, China Mobile Ltd 0941.HK; China Unicom 0762.HK and China Telecom Corp 0728.HK said they expect the NYSE to notify regulators of their delistings after the companies unsuccessfully appealed the move.nFWN2MU13L nFWN2MU13L

A NYSE spokesman declined to comment.

The delistings stem from investment restrictions put in place by former U.S. President Donald Trump targeting Chinese technology firms. President Joe Biden has left the rules in place amid continuing tensions between the world's two largest economies, despite objections from businesses.nL4N2KW5D4

The companies said their delistings will be effective 10 days after the exchange files a Form 25 to the U.S. Securities and Exchange Commission.


(Reporting by Ross Kerber in Boston; editing by Diane Craft)

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