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Chinese telecom giants ask NYSE to review delisting

By Ma Si | | Updated: 2021-01-21 10:56
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Signs of China Telecom, China Mobile and China Unicom are seen during the China International Import Expo (CIIE) at the National Exhibition and Convention Center in Shanghai, on Nov 5, 2018. [Photo/Agencies]

Three Chinese telecom operators said on Thursday that they have filed with the New York Stock Exchange with written requests for a review of the bourse's decision to delist them.

China Mobile, China Unicom and China Telecom said in separate statements that they on Wednesday (US Eastern Standard Time) requested the NYSE's Committee of the Board of Directors to review the decision to delist them, to protect the lawful rights of them and their shareholders.

According to the NYSE Listed Company Manual, the review will be scheduled at least 25 business days from the date the request for review is filed, China Mobile said.

China Mobile said it requested that the committee reverse the delisting decision and stay the trading suspension of its American Depositary Receipts pending review of the delisting decision.

Investors have been cautioned that there is no assurance that its review request and stay request will be successful, China Mobile added.

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