The New York Stock Exchange said Monday evening local time that it no longer plans to delist Chinese telecom giants from the exchange.
On December 31, the NYSE said it would delist the three Chinese telecom giants - China Mobile, China Telecom, and China Unicom.
As to why the sudden 180-degree turn, the NYSE did not specify, saying only that the latest decision was "in light of further consultation with relevant regulatory authorities."
At noon Beijing time on Tuesday, China Unicom announced on the Hong Kong Stock Exchange that it had taken note of the NYSE's update of its previous decision. NYSE regulators will continue to evaluate the applicability of the Executive Order to the Company and its continued listing status.
China Unicom will continue to closely monitor the progress of related matters and will make further announcements in accordance with the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and applicable laws in due course, the company said.
So far, China Unicom is up 6.7 percent in Hong Kong, while China Telecom is up 5.7 percent and China Mobile is up 5.4 percent.
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