According to news on January 8, prior to the Trump administration’s ban, the New York Stock Exchange announced plans to delist and delist China Unicom, China Mobile and Telecom.
As soon as the news came out, U.S. Secretary of Commerce Mnuchin immediately expressed his opposition. The NYSE no longer plans to delist the three Chinese telecom operators.
On January 6, US Eastern Time, the New York Stock Exchange announced again that it would re-promote the delisting of China Mobile, China Telecom, and China Unicom. This is also the second time the exchange has changed its “attitude” in two days.
In response to this matter, the three major operators responded immediately:
China Telecom issued an announcement stating that on January 6, 2021, the company received a further notice from the New York Stock Exchange that the New York Stock Exchange again overturned its previous decision, that is, the New York Stock Exchange regulator has decided to restart the United States’ depositary shares under the market procedure to comply with the administrative order. The company deeply regrets the aforementioned decisions and actions of the New York Stock Exchange. The repetition and conflict of the New York Stock Exchange’s own decisions have harmed the interests of the company and its shareholders.
China Unicom issued an announcement stating that the company received further notice from the New York Stock Exchange on January 6, 2021. The New York Stock Exchange again overturned its previous decision, that is, the New York Stock Exchange regulatory authority has decided to restart the American depositary. Securities under the market procedure to comply with the administrative order. The New York Stock Exchange will file an application with the US Securities and Exchange Commission to delist the American Depositary Securities after completing all applicable procedures, including any appeals (if any) to the decisions of the New York Stock Exchange regulatory staff. It is expected that the New York Stock Exchange’s repeated overthrow of its own decisions and the aforementioned new OFAC guidelines will have an impact on the trading prices and volume of the company’s common stocks and American Depositary Securities.
China Mobile stated in the announcement that since the company went public in October 1997, it has strictly abided by the laws and regulations, market rules and regulatory requirements of the place of listing, and operated in compliance with laws and regulations. The company will continue to pay close attention to the progress of related matters, and consider different options and seek professional advice to protect the legitimate rights and interests of the company and shareholders. In the future, further announcements will be made in accordance with the Securities Listing Rules of The Stock Exchange of Hong Kong Limited and applicable laws as needed.