In an unexpected turn, the New York Stock Exchange said Monday that it no longer intends to delist China’s three major telecoms operators, a decision that was originally announced on December 31.
The initial action targeted China Mobile, China Unicom and China Telecom as part of the Trump Administration’s move to bar investment in companies deemed to supply and support China’s military, intelligence and security services.
The current blacklist names 35 companies, including the parent organizations of the three listed telecoms firms as well as Huawei and China’s major chipmaker SMIC.
The reversal was made “in light of further consultation with relevant regulatory authorities,” said the exchange. The companies will continue to be listed and traded on the NYSE while the exchange will continue to evaluate how the executive order applies to them and their listing status, according to the announcement.
The delisting of the three telecoms giants, which have