NYSE to delist three Chinese telecoms in dizzying about-face

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The New York Stock Exchange said it will delist three Chinese telecom companies, confirming its latest reversal on the matter a day after Treasury Secretary Steve Mnuchin told the NYSE chief he disagreed with an earlier decision to reverse the delistings

FILE PHOTO: View of the NYSE building during snowfall in the Financial District of Manhattan, New York City, New York, U.S., December 17, 2020. REUTERS/Jeenah Moon

The NYSE late on Monday said it had reversed a decision made days earlier to delist China Mobile Ltd, China Telecom Corp Ltd and China Unicom Hong Kong Ltd, after consulting with regulators in connection with the U.S. Treasury’s Office of Foreign Assets Control. On Wednesday the exchange operator said in a statement its latest decision, to move forward with the delistings, was based on “new specific guidance received on January 5, 2021, that the Department of Treasury’s Office of Foreign Assets Control.”A spokeswoman for the exchange operator declined to comment further.

“It is outrageous that those in the U.S. Treasury Department attempted to undermine the president’s executive order in a blatant attempt to serve the interests of Wall Street and the Chinese Communist Party at the expense of the United States,” Rubio said on Wednesday.

 

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