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Deal
The New York Stock Exchange is initiating the delisting process of three Chiense telecommunications companies, China Telecom Corporation Limited, China Mobile Limited and China Unicom (Hong Kong) Limited, https: / said in a statement. /ir.theice.com/ press / news-details / 2020 / NYSE-to-Commence-Delisting-Proceedings-in-Securities-of-Three-Issuers-to-Compliance-with-Executive-Order-13959 / default.aspx Thursday.
FILE PHOTO: The United States flag is seen at the New York Stock Exchange (NYSE) after Election Day in Manhattan, New York, the United States, November 4, 2020. REUTERS / Andrew Kelly
NEW YORK: The New York Stock Exchange is initiating the process of delisting the securities of three Chiense telecommunications companies, China Telecom Corporation Limited, China Mobile Limited and China Unicom (Hong Kong) Limited, https: / said in a statement /ir.theice .com / press / news-details / 2020 / NYSE-to-Commence-Delisting-Proceedings-in-Securities-of-Three-Issuers-to-Compliance-with-Executive-Order-13959 / default.aspx Thursday.
The move comes after President Donald Trump introduced an executive order in November that bans US investments in Chinese companies that Washington says are owned or controlled by the Chinese military.
The NYSE said that the NYSE Regulation made its decision that the issuers were no longer suitable for listing, as the order prohibits any transaction in securities “designed to provide investment exposure to such securities, of any Communist Chinese military company, by anyone from U.S”.
The NYSE said issuers have the right to a review of the decision.
(Reporting by Megan Davies; Editing by Kim Coghill)
