Why Shares of China Mobile, China Telecom, and China Unicom Are Rising Today
Shares of China Mobile (NYSE: CHL), China Telecom (NYSE: CHA), and China Unicom (NYSE: CHU), the top telecommunications companies in China, were all rising today after the New York Stock Exchange reversed an earlier decision to have the tech stocks delisted from the exchange.
China Mobile's shares were up 9.1%, while China Telecom had gained 8.7% and China Unicom had popped 13.6% as of 10:56 a.m. EST.
The NYSE said in a brief statement that "In light of further consultation with relevant regulatory authorities" the exchange "no longer intends to move forward with the delisting action" that it had announced around the New Year's holiday.
Source Fool.com
