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Three Chinese telecom companies to be delisted by NYSE

Stock MarketsMay 07, 2021 06:01PM ET
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© Reuters. FIEL PHOTO: A sign of China Unicom is seen on a street, during the coronavirus disease (COVID-19) outbreak in Shanghai, China January 8, 2021. REUTERS/Aly Song

(Reuters) - 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 (NYSE:CHL) Ltd; China Unicom (NYSE:CHU) and China Telecom (NYSE:CHA) Corp said they expect the NYSE to notify regulators of their delistings after the companies unsuccessfully appealed the move.

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.

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.

Three Chinese telecom companies to be delisted by NYSE
 

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Comments (2)
Simon Liu
Simon Liu May 09, 2021 4:47AM ET
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Has nothing to do with business, but make American investers a loser.
Badis Sonatrach
Badis Sonatrach May 07, 2021 8:13PM ET
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this is great news, let's move to HKE.
 
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