Chinese telecom firms seek review of NYSE delisting decision

Telecom companies China Unicom Hong Kong Ltd, China Mobile and China Telecom Corp said on Thursday they had requested the New York Stock Exchange to review its decision to delist their American depositary shares.

The NYSE – after some flip-flopping – had delisted the three Chinese telcos earlier this month, following an executive order by former U.S. President Donald Trump that barred Americans from investing in public companies Washington deems to have links with the Chinese military.

The U.S. investment ban has triggered a wider fallout for the companies, with U.S. investors quickly selling off their stakes and index providers cutting them from their benchmarks.