Free Republic

The New York Stock Exchange said it no longer plans to delist three Chinese telecommunications giants. In a late Monday statement, the NYSE said it dropped the plans after "further consultation with relevant regulatory authorities in connection with Office of Foreign Assets Control." Hong Kong-listed shares of China Telecom, China Mobile and China Unicom rallied after news of the reversal. The announcement comes after the NYSE said on Dec. 31 that it would move to delist American depositary shares of China Telecom, China Mobile and China Unicom. The exchange had originally planned to drop those listings in order to comply...

The top U.S. communications regulator urged the rejection of China Mobile Ltd.’s application to provide telecommunications services in the American market, opening another front in the trade fight between the world’s biggest economies. Federal Communications Commission Chairman Ajit Pai said Wednesday he was scheduling a vote May 9 on a measure to deny the application of China Mobile USA, described as a Delaware-registered subsidiary that is indirectly controlled by the Chinese government, on national security grounds. “We comply with all applicable laws in the course of operations and have not engaged in any behavior that causes ‘substantial and serious national...