NYSE scraps plan to delist China telecom firms

New York (AFP) – The New York Stock Exchange abandoned plans to delist three state-owned Chinese telecom companies on Monday, reversing a decision that further dented already strained relations between the world’s two superpowers. In a brief statement, the stock exchange said it “no longer intends to move forward with the delisting action” for China Telecom, China Mobile and China Unicom. No detailed reason was given for the sudden reversal but the exchange said it came after “further consultation with relevant regulatory authorities”. Shares in the three state-owned telecoms firms jumped on t…

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