(Bloomberg) — S&P Dow Jones Indices said it will no longer delete the U.S.-listed shares of three Chinese telecom firms from its benchmarks, a move that was set to take effect on Thursday.
The index provider will keep the American depository receipts of China Mobile Ltd., China Telecom Corp. and China Unicom Hong Kong Ltd. after the New York Stock Exchange on Monday appeared to cancel its plan to delist the shares, according to an emailed statement. S&P Dow Jones said it had no comment on the possibility that NYSE will reverse course yet again.
The trio of companies lost more than $30 billion in market value in the final weeks of 2020 after U.S. President Donald Trump said heâ€™s cutting off U.S. investment in companies tied to Chinaâ€™s military. The companies have their primary listings in Hong Kong.
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