NYSE To Delist Three Chinese Telecoms in Dizzying About-Face

The New York Stock Exchange said on Wednesday it will delist three Chinese telecom companies, confirming its latest reversal on the matter a day after U.S. Treasury Secretary Steve Mnuchin told the NYSE chief he disagreed with an earlier decision to reverse the delistings. From a report: The latest move, which is effective Jan. 11, marks the third time in less than a week the Big Board has ruled on the matter. The flip-flopping highlights the confusion over which firms were included in an executive order issued by President Donald Trump in November barring U.S. persons from investing in publicly traded companies Washington deems to be tied to the Chinese military. It also comes amid escalating tensions within Washington on China policy in the final days of the Trump administration. 'There is a unique situation where there is an outgoing administration that is disengaged and (there are) orders sitting out there, so something has to be done, but noone wants to take on responsibility,' said Leland Miller, the CEO of the U.S.-based consultancy China Beige Book. 'I think in future that anyone getting these orders will say: 'Tell us exactly what you want us to do,' and force administrations to be more focused.'

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