The New York Stock Exchange (NYSE) is reportedly reconsidering its plans to allow three Chinese telecommunications giants to continue to be listed following confusion over rules set by the Trump administration and tensions in Washington over Chinese policy.
The exchange announced late Monday that it was withdrawing a decision announced last week to remove 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 Foreign Asset Control Office.
This is due to the ambiguity of the executive order by President Donald Trump which prohibits investing in firms allegedly Washington has ties to the Chinese military, and whether the three companies are included under the order.
U.S. Treasury Secretary Steven Mnuchin contacted NYSE President Stacey Cunningham on Tuesday to tell him he did not agree with the decision.
The NYSE statement apparently raised uncertainty over the Trump administration's previous actions that blacklisted several Chinese companies.
However, according to Bloomberg, the removal is expected to continue as previously planned, according to sources close to the matter.
