The New York Stock Exchange said it will no longer delist China’s three biggest state-owned telecommunications companies, backtracking on a plan that had threatened to escalate tensions between the world’s largest economies.
NYSE’s U-turn came with scant explanation just four days after the exchange said it would remove the shares to comply with a U.S. executive order barring investments in businesses owned or controlled by the Chinese military. Citing “consultation with relevant regulatory authorities” for the reversal in a brief statement late Monday, NYSE declined to elaborate further.
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