Stocks

3 Chinese telecom companies to be delisted by NYSE

BOSTON (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 relationship to last year.

In separate announcements earlier on Friday, China Mobile, China Unicom and China Telecom said they expect the NYSE to notify regulators of their delisting after the companies unsuccessfully appealed the move.

A NYSE spokesman declined to comment.

The delisting stems 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 delisting will be effective 10 days after the exchange files a Form 25 to the U.S. Securities and Exchange Commission.

Source: 3 Chinese telecom companies to be delisted by NYSE

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