China Telecom : Three Major Telcos to Keep Stock Listings on NYSE

By Martin Mou

China's three largest telecommunications companies said Tuesday that their shares will continue to trade on the New York Stock Exchange.

China Mobile Ltd., China Unicom (Hong Kong) Ltd. and China Telecom Corp. said in separate statements that they have taken note of the New York Stock Exchange's decision to no longer seek their delistings.

In a statement released Monday night Eastern time, the Big Board said "it no longer intends to move forward with the delisting action" on the three companies.

The Hong Kong-listed shares of the three state-owned firms surged on the news. Shares of China Mobile, which numbers among the most valuable of China's listed state-owned enterprises, closed 5.1% higher Tuesday, while China Telecom and China Unicom gained 3.4% and 8.5%, respectively.

Write to Martin Mou at [e-mail]

(END) Dow Jones Newswires

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