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CHINA TELECOM CORPORATION LIMITED

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S&P Dow Jones to no longer remove ADRs of Chinese telecom companies

01/06/2021 | 01:28am EDT
FILE PHOTO: 5G active antenna units with logos of China Mobile and Huawei are seen in front of a National People's Congress (NPC) conference center in Luoyang, Henan

(Reuters) - S&P Dow Jones Indices said on Wednesday it will no longer remove ADRs of three Chinese telecom giants from its benchmarks after the New York Stock Exchange said this week it no longer plans to delist them.

The NYSE said late Monday it reversed a decision announced just last week to delist China Mobile Ltd, China Telecom Corporation Ltd and China Unicom (Hong Kong) Ltd after consulting with regulatory authorities.

However, the bourse is reconsidering and could reverse its decision yet again amid confusion over rules set by the Trump administration and tension within Washington on China policy.

There is ambiguity over an executive order issued by President Donald Trump barring investment in firms Washington says are tied to the Chinese military, and whether the three firms were banned under the order, a source familiar with the matter said on Tuesday.

NYSE will go ahead with the delistings, which were planned on or before Jan. 11, if it deems the companies are subject to the order, the person said.

(Reporting by Bhargav Acharya and Kanishka Singh in Bengaluru; Editing by Edwina Gibbs)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CHINA MOBILE LIMITED -1.95% 47.7 End-of-day quote.7.92%
CHINA TELECOM CORPORATION LIMITED -2.60% 2.62 End-of-day quote.21.86%
CHINA UNICOM (HONG KONG) LIMITED -0.98% 4.05 End-of-day quote.-8.99%
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Analyst Recommendations on CHINA TELECOM CORPORATION LIMITED
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Financials
Sales 2021 430 B 66 527 M 66 527 M
Net income 2021 25 498 M 3 949 M 3 949 M
Net Debt 2021 10 111 M 1 566 M 1 566 M
P/E ratio 2021 8,82x
Yield 2021 6,37%
Capitalization 459 B 59 007 M 71 132 M
EV / Sales 2021 1,09x
EV / Sales 2022 1,00x
Nbr of Employees 277 809
Free-Float 25,2%
Chart CHINA TELECOM CORPORATION LIMITED
Duration : Period :
China Telecom Corporation Limited Technical Analysis Chart | 728 | CNE1000002V2 | MarketScreener
Technical analysis trends CHINA TELECOM CORPORATION LIMITED
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 23
Last Close Price 2,62 CNY
Average target price 3,50 CNY
Spread / Average Target 33,6%
EPS Revisions
Managers and Directors
Rui Wen Ke Chairman & Chief Executive Officer
Zheng Mao Li President, COO & Executive Director
Min Zhu CFO, Secretary, Executive Director & Executive VP
Yi Xun Sui Chairman-Supervisory Board
Er Ming Xu Independent Non-Executive Director
Sector and Competitors