Telecoms


Xiaomi shares surge after judge blocks US investment ban

Xiaomi shares surge after judge blocks US investment ban

(ATF) Shares in Chinese telecommunications giant Xiaomi surged on March 15 after a court blocked the US Department of Defense from restricting American investment in the company.Hong Kong-listed Xiaomi shares jumped as much as 12%, the company's biggest intra-day gain in almost a month. The stock was holding at HK$25 …

Continue reading

China to speed up reform of SOEs, plus energy and railway sectors

China to speed up reform of SOEs, plus energy and railway sectors

(ATF) This year China aims to complete 70% of its three-year plan for market-oriented reforms of state enterprises, and to ramp up reforms in the energy and railway sectors, officials said during the 'Two Sessions'.The 'Two Sessions' – annual gatherings of the Chinese People’s Political Consultative Conference (CPPCC) and the …

Continue reading

Outgoing FCC head insists China is biggest risk to US infrastructure

Outgoing FCC head insists China is biggest risk to US infrastructure

(ATF) The outgoing head of the US telecoms regulator said potential Chinese espionage, including cyber-attacks and hacking - is the biggest national security issue that his successors would face in the next four years.The departing Federal Communications Commission (FCC) chairman, Ajit Pai, told Reuters in a final interview that China …

Continue reading

Marco Rubio condemns NYSE U-turn on China telecoms delistings

Marco Rubio condemns NYSE U-turn on China telecoms delistings

(ATF) A reversal of a plan to delist three Chinese telecom companies by the New York Stock Exchange (NYSE) was condemned by Senator Marco Rubio on Tuesday January 5, and greeted with confusion by investors. Further twists seem likely.The NYSE announced late on Monday that it had reversed a decision …

Continue reading

NYSE says telecoms delistings to proceed after second U-turn

NYSE says telecom delistings to proceed after second U-turn

(ATF) In another twist to the possible US delisting of three huge Chinese telecommunication companies, the New York Stock Exchange is reportedly again considering booting them off the exchange, according to multiple reports.The potential second U-turn illustrates the conflict between rules set by the Trump administration and established guidelines within …

Continue reading

China’s telecoms big three see shares plunge over NYSE delisting move 

China’s telecoms big three see shares plunge over NYSE delisting move 

Shares in China's three biggest telecoms companies fell by as much as 5% in Hong Kong on Monday, the first trading session since the New York Stock Exchange (NYSE) said it would delist the firms in a move China branded “unwise” and oppressive.By the close of trade, the shares had …

Continue reading

China's Commerce ministry hits back at US telecoms blacklisting

China's commerce ministry hits back at U.S. telecoms blacklisting

(ATF) China's Commerce ministry has vowed to defend the country's three biggest telecommunications companies against plans by the United States to delist them from Wall Street stock exchanges.The ministry said on January 2 that the delisting was an "abuse of national security and inconsistent with market rules", adding: "China will …

Continue reading

NYSE starts process of delisting three Chinese telecoms companies

NYSE starts process of delisting three Chinese telecoms companies

(Reuters) The New York Stock Exchange is starting the process of delisting securities of three Chinese telecoms companies, after President Donald Trump last month barred U.S. investments in Chinese firms Washington says are owned or controlled by the military.The move by the NYSE, which will limit U.S. investor access, follows …

Continue reading

US legislators set to back $1.9 billion Huawei replacement plan

US legislators set to back $1.9 billion Huawei replacement plan

(ATF) The US Congress looks set to approve $1.9 billion to fund a programme to remove Chinese-made telecoms network equipment as part of the latest coronavirus pandemic stimulus bill.US lawmakers backed the Covid-19 relief package of nearly $900 billion late on Sunday night after months of wrangling. The package includes …

Continue reading

US said to hold talks aimed at freeing Huawei executive Meng

US said to hold talks aimed at freeing Huawei executive Meng

(ATF) The United States is prepared to settle charges against Huawei chief financial officer Meng Wanzhou, who has spent nearly two years fighting extradition from Canada to the US, multiple reports indicated on Friday.Meng’s lawyers and the US Justice Department have been negotiating, especially since the US presidential election last …

Continue reading