NYSE’s U-turn on China telecom delistings may reverse again, amid confusion

NEW YORK/WASHINGTON/HONG KONG/ (Reuters) – The New York Stock Exchange is reconsidering its plan to allow three Chinese telecom giants to remain listed, the latest twist amid confusion over rules set by the Trump administration and tension within Washington on China policy.

If it does so, it would mark a second sudden U-turn. The bourse said late Monday it reversed an decision announced just last week to delist China Mobile Ltd, China Telecom Corp Ltd and China Unicom Hong Kong Ltd after consulting with regulatory authorities in connection with the U.S. Treasury’s Office of Foreign Assets Control.

The about-face was due to ambiguity over an executive order issued by President Donald Trump barring investment in firms Washington says are tied to the Chinese military, and whether the three firms were banned under the order, a source familiar with the matter said on Tuesday.