Business
BlackRock sells $200 million China Telecom stake after U.S. ban – Reuters
BlackRock has sold almost all its stake in China Telecom, a company subject to a new ban on U.S. investment, a stock market filing on Friday showed.
By Reuters Staff
HONG KONG (Reuters) – BlackRock has sold almost all its stake in China Telecom, a company subject to a new ban on U.S. investment, a stock market filing on Friday showed.
The move comes as U.S. investors scramble to exit stocks subject to the sanctions, which ban Americans from owning companies deemed to have links with Chinas military.
The worlds biggest asset manager sold 818 million shares in China Telecom, one of 44 sanctioned companies, at an average of HK$1.92 each on Tuesday,…
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