NYSE to go ahead with delisting three Chinese telecom firms, reversing course again

NEW YORK: The New York Stock Exchange said on Wednesday (Jan 6) it will delist three Chinese telecom companies from Jan 11, in another U-turn a day after US Treasury Secretary Steve Mnuchin told the NYSE chief he disagreed with its earlier decision to reverse the delistings.

The latest move marks the third about-turn, amid confusion over rules set by the Trump administration and escalating tensions within Washington on China policy.

The bourse had on Monday reversed a decision announced just last week to delist, China Telecom and China Unicom Hong Kong after consulting with regulators in connection with the US Treasury's Office of Foreign Assets Control.

Plans to delist the three Chinese firms were prompted by a White House executive order banning US investment in Chinese military-linked companies.

On Tuesday, Mnuchin told NYSE President Stacey Cunningham that he disagreed with the bourse's prior decision.