CHU - Chinese telecoms head for NYSE delisting after appeals are rejected

China's state-owned telecoms will be delisted from the NYSE after the exchange rejected their appeals - bringing to fruition a decision kicked off by the Trump administration. Former President Trump signed an executive order in November barring Americans from investing in Chinese companies that the U.S. said aided Chinese military, intelligence and security services. China Mobile (CHL), China Telecom (CHA) and China Unicom (CHU) appealed the January delisting decision from NYSE after Joe Biden was inaugurated as president, but they have now filed that they expect the exchange will apply to the SEC for delisting permission. That would mean delisting would take effect 10 days after the SEC was notified. American Depositary Receipts in all three companies have been suspended since Jan. 11, and while large investors have swapped their ADRs for Hong Kong shares, many smaller investors found themselves stuck since their brokerages don't support international accounts. The Chinese

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Chinese telecoms head for NYSE delisting after appeals are rejected