CHU - NYSE contemplates original delisting plan of Chinese telecom shares - Bloomberg

The New York Stock Exchange is considering proceeding in delisting three major Chinese telecommunications firms after Treasury Secretary Steven Mnuchin criticized its decision to grant the companies a reprieve, Bloomberg reports.This is the second time NYSE plans to reverse its course after Trump signed an order in November that requires investors to unload Chinese businesses deemed a threat to U.S. national security. The order is set to take effect in six days, on Jan. 11.The trio of companies - China Mobile (CHL), China Telecom (CHA) and China Unicom (CHU), lost more than $30B in market value in the final weeks of 2020 as investors pulled back following Trump’s order.They shed as much as $12B more as their American depositary receipts tumbled Monday on the NYSE’s decision to delist them. Prices climbed Tuesday after the NYSE canceled the delisting.The NYSE’s latest move follows a whirlwind 18 hours. The decision to keep the

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NYSE contemplates original delisting plan of Chinese telecom shares - Bloomberg