China’s three major wireless carriers lost their appeals of a New York Stock Exchange decision to delist their shares, a signal that the Biden administration is likely to maintain curbs on certain Chinese companies imposed under former President Donald Trump, reported Caixin.
A committee of the board of directors of the New York Stock Exchange (NYSE) “affirmed the determination” to remove the American depositary shares (ADSs) of China Mobile, China Unicom (Hong Kong) and China Telecom Corp, the three companies said in similarly worded statements filed Friday with the Hong Kong Stock Exchange, where they are also traded.
The announcements mean the three Chinese state-owned telecom giants lost their attempts to reverse the course of delistings counting on policy changes under the new US administration. The companies filed the appeals Jan. 20, hours after Trump’s departure from the White House.
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