On January 6, local time, the New York Stock Exchange (NYSE) announced that it “will proceed with the delisting of the following companies in accordance with U.S. law”, after the NYSE said it would no longer require the delisting of the three companies.
The companies referred to by the NYSE are China Telecom Limited, China Mobile Limited and China Unicom (Hong Kong) Limited.
NYSE: In order to enforce the rules, the above companies will cease trading at 4:00 am on the 11th
According to CCTV News, on January 6, local time, the New York Stock Exchange (NYSE) issued a notice, saying that “it will continue to push forward the delisting of the following companies in accordance with US laws”.
The announcement said the decision was based on the latest guidance provided to the NYSE by the Commerce Department’s Office of Foreign Assets Control on Jan. 5 that “pursuant to Executive Order No. 13959, no one may engage in transactions with the three telecommunications companies after 9:30 a.m. EST on Jan. 11.”
The New York Stock Exchange said it would stop trading in the companies at 4 a.m. Monday in order to comply with the rules.
On December 31, the New York Stock Exchange announced that it had delisted the US-listed companies of three Chinese telecommunications companies under the Trump administration’s Executive Order 13959, which, in the name of national security, prohibits US individuals and companies from dealing with certain Chinese companies, their subsidiaries and funds that hold their securities. But on Jan. 4, the NYSE reversed course, announcing that it had communicated that it would no longer seek to delist the companies, the second time the exchange has reversed course.
The foreign ministry responded after the New York Stock Exchange “changed its language” and stopped asking China’s top three telecom operators to delist
The New York Stock Exchange said it would no longer ask China’s top three telecom operators to delist, according to a report by CCTV News on the morning of January 5.
The NYSE said it no longer intends to move forward with delisting actions related to China Telecom Co., Ltd., China Mobile Ltd., and China Unicom (Hong Kong) Ltd., following further discussions with relevant regulators on OFC FAQ857. The New York Stock Exchange announced on December 31 that it would begin delisting three Chinese telecom operators — China Mobile, China Telecom and China Unicom — in response to an executive order by the Trump administration.
The New York Stock Exchange is reconsidering its decision to halt the delisting of three major Chinese telecommunications companies due to objections from US Treasury Secretary Steven Mnuchin, a reporter asked at a regular press conference of the Foreign Ministry on Monday. What is the Foreign Ministry’s comment?
Hua Chunying: I made clear China’s principled position on this issue in response to two inquiries yesterday and the day before yesterday. I can emphasize again that America’s position as an international financial center depends on the confidence of businesses and investors around the world in the inclusiveness and certainty of its rules-based regime. Recently, some political forces in the United States have continued to unjustifiable repression of foreign companies listed in the United States, which reflects the arbitrary, arbitrary and uncertain nature of its rules and regulations. The direct impact of the US crackdown on Chinese companies is quite limited, and the final damage will be to the national interests and image of the US, as well as the global status of the US capital market. We hope that the US will respect the rule of law and the market, and do more to safeguard the order of the global financial market, protect the legitimate rights and interests of investors and contribute to the stable development of the global economy. I think not only China but other countries are watching what the United States does, and what the United States does will determine whether it will be seen in the eyes of people around the world as credible, as reliable and as worthy of cooperation.
Hong Kong shares of the three major telecom operators rose yesterday
It is worth noting that the six major telecom operators are up in Hong Kong. Among them, China Telecom rose 3.7%, China Mobile 1.19% and China Unicom 3.51%.
In addition, China Unicom’s A shares rose 2.33% on June 6; China Telecom rose 3.74%, China Mobile fell 5.45%, and China Unicom ended flat on the U.S. stock market.
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