THE New York Stock Exchange (NYSE) said Wednesday it will delist three Chinese telecom companies, confirming its latest U-turn on the matter a day after U.S. Treasury Secretary Steve Mnuchin told the NYSE chief he disagreed with an earlier decision to reverse the delistings. The latest move, which is effective Jan. 11, marks the third time in less than a week the exchange has ruled on the issue. The flip-flopping highlights the confusion over which firms were included in an executive order issued by U.S. President Donald Trump in November barring U.S. persons from investing in publicly traded companies Washington deems to be tied to the Chinese military. It also comes amid escalating tensions within Washington on China policy in the final days of the Trump administration. The NYSE originally announced Thursday plans to delist China Mobile Ltd., China Telecom Corp. and China Unicom Hong Kong Ltd. On Monday, it did a U-turn after consulting with regulators in connection with the U.S. Treasury’s Office of Foreign Assets Control and decided to keep them listed. Wednesday’s decision marks a return to the original plan. The NYSE said Wednesday its latest decision, to move forward with the delistings, was based on “new specific guidance received Jan. 5, 2021, that the Department of Treasury’s Office of Foreign Assets Control provided to the NYSE.” (SD-Agencies) |