NYSE To Delist Three Chinese Telecom Giants On Trump Executive Order

Read more on this subject: Trump Administration
News Story Source: https://www.zerohedge.com by Tyler Durden
China Mobile, China Telecom, China Unicom Hong Kong will be suspended from trading between January 7 and January 11, according to the statement by the NYSE.

Trump signed an order last November barring U.S. investments in Chinese companies that it claims to be owned or controlled by the Chinese military. The injunction is slated to deter U.S. investors from buying shares of the Chinese companies designated by the Pentagon as backed by the military forces.

Prior to the delisting, in May the U.S. Federal Communications Commission barred China Mobile from operating in the U.S. In December, it ordered carriers to remove equipment made by Huawei and begun looking into whether China Telecom should be allowed to operate in the country. China Telecom's U.S. unit told the FCC in a June 8 filing that it's an independent business based in the U.S. and not subject to Chinese government control.

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