Three major Chinese telecommunications companies have announced that their exclusion from the New York Stock Exchange, decided in January under the Trump administration and which they had appealed, was confirmed on Friday by the New York Stock Exchange (NYSE).
In separate statements, China Mobile, China Telecom and China Unicom indicate that they had asked on January 20 that the NYSE reverse its decision to ban them from the New York listing, a decision that had been announced by the administration. Trump on January 6.
"
On May 6, 2021, the NYSE Board of Directors confirmed its determination,
" China Mobile said in a statement.
Read the report: China facing the world
The three companies controlled by the Chinese government are also traded on the Hong Kong Stock Exchange.
They were listed in New York in the form of “ADS” (American Depositary Shares), securities allocated to foreign companies wishing to access Wall Street.
These ADSs will be removed from the listing within ten days, the companies say.
The initial decision to ban these Chinese groups from the New York Stock Exchange followed a November 12 executive order from President Donald Trump, prohibiting transactions in companies accused of being involved in the development of the Chinese military complex.
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In January, the new Biden administration indicated that it was following in the wake of the previous one by speaking out against "
China's abusive, unfair and illegal practices,
" said the future Treasury secretary of the United States. Democratic government, Janet Yellen.
