The New York Stock Exchange (NYSE) claims that it has initiated proceedings to remove three Chinese telecommunications companies in order to comply with US regulations restricting companies associated with the Chinese military.
China Mobile Ltd, China Telecom Corp Ltd and China Unicom Hong Kong Ltd will be suspended between Jan. 7-11, the NYSE reports. The companies are entitled to review the determination by the Committee of the Board of Directors of the Exchange. All three companies are also listed in Hong Kong.
US President Donald Trump signed an injunction in November banning US investors from buying and selling shares in companies affiliated with the People’s Republic of China military.