LSE – New York Stock Exchange U-turn on China delistings | Business

The New York Stock Exchange plans to delist China’s three largest telecoms companies just two days after reversing the decision, in the latest confusing twist in American attempts to restrict Beijing’s reach.

The delisting had first been planned after President Trump ordered a ban in November on US investors holding stakes in certain Chinese groups.

However, the exchange unexpectedly said on Monday that it would not remove China Mobile, China Telecom and China Unicom Hong Kong after discussing the issue with regulators.

In the latest U-turn yesterday, the exchange said it would now go ahead with the delistings, as initially planned, and trading in the stocks would be suspended next Monday after “new specific guidance” on Tuesday from the Treasury department’s office of foreign