NYSE not planning to delist Chinese telecoms

The New York Stock Exchange said on Monday Washington time that it no longer intends to move forward with the plan to delist three Chinese telecom companies, in light of further consultation with relevant regulatory authorities.

The reversal came after the NYSE said on Dec 31 that to comply with a US government order, it had planned to commence proceedings to delist China Telecom Corp Ltd, China Mobile Ltd and China Unicom (Hong Kong) Ltd.

On the heel of the news, the shares of the three companies surged in Hong Kong. Shares rose 8.3 percent for China Unicom, 6.8 percent for China Mobile, and 7.1 percent for China Telecom.