NYSE Backflips on Plan to Delist Chinese Telecom Giants

The New York Stock Exchange is reflected in a puddle in New York on Oct. 2. Photo: Bloomberg

(Bloomberg) — The New York Stock Exchange said it no longer plans to delist China’s big three telecommunications companies, in a U-turn that came days after announcing the move to comply with a U.S. executive order.

Shares of China Mobile Ltd., China Telecom Corp. and China Unicom Hong Kong Ltd. rallied on the latest development, rising more than 6% in Hong Kong trading.

Contact editor Yang Ge (geyang@caixin.com)

Support quality journalism in China. Subscribe to Caixin Global starting at $0.99.