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The New York Stock Exchange reversed its decision to delist China’s three largest telecommunications companies, after consulting with regulatory authorities about a recent U.S. investment ban.
In a statement released Monday night Eastern time, the Big Board said “it no longer intends to move forward with the delisting action” on China Mobile Ltd., China Telecom Corp. and China Unicom (Hong Kong) Ltd.
NYSE STARTS PROCESS OF DELISTING THREE CHINESE TELECOM COMPANIES
The Hong Kong-listed shares of the three telecom majors surged on the news. Shares of China Mobile, which is among the most valuable of China’s listed state-owned enterprises, rose as much as 7.5% in late morning trade on Tuesday, while China Telecom and China Unicom jumped 8.1% and 11%, respectively.
The New York Stock Exchange…
