ICE - NYSE starts process of delisting Chinese telco giants

The New York Stock Exchange (ICE) will delist three Chinese telcos to comply with a U.S. executive order issued in November that imposed restrictions on companies identified as affiliated with the Chinese military.China Mobile (CHL), China Telecom (CHA), China Unicom Hong Kong (CHU) will be suspended from trading between Jan. 7 and Jan. 11, according to a statement from the exchange.The executive order has also resulted in a series of companies being removed from indexes compiled by MSCI, S&P Dow Jones Global Indices and FTSE Russell, marking the latest escalation in tensions between the U.S. and China.President Trump further signed a law last month that would kick Chinese companies off American exchanges if they have failed to comply with the U.S. Public Accounting Oversight Board's audits for three years in a row.

For further details see:

NYSE starts process of delisting Chinese telco giants