Published: 16:56, January 6, 2021 | Updated: 06:01, June 5, 2023
S&P Dow Jones to no longer remove China telecom ADRs
By Reuters

In this file photo taken on Dec 9, 2020, the Wall Street sign at the New York Stock Exchange is seen in New York City. (ANGELA WEISS / AFP)

S&P Dow Jones Indices said on Wednesday it will no longer remove ADRs of three Chinese telecom giants from its benchmarks after the New York Stock Exchange said this week it no longer plans to delist them.

The NYSE said late Monday it reversed a decision announced just last week to delist China Mobile, China Telecom Corporation and China Unicom (Hong Kong) after consulting with regulatory authorities

The NYSE said late Monday it reversed a decision announced just last week to delist China Mobile Ltd, China Telecom Corporation Ltd and China Unicom (Hong Kong) Ltd after consulting with regulatory authorities.

READ MORE: NYSE delisting 'disappoints' China's three telecom firms

However, the bourse is reconsidering and could reverse its decision yet again amid confusion over rules set by the Trump administration and tension within Washington on China policy.

There is ambiguity over an executive order issued by US President Donald Trump barring investment in firms Washington says are tied to the Chinese military, and whether the three firms were banned under the order, a source familiar with the matter said on Tuesday.

NYSE will go ahead with the delistings, which were planned on or before Jan 11, if it deems the companies are subject to the order, the person said.

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