Tencent Music executive says 'premature' to speculate over U.S. delisting

HONG KONG/SHANGHAI (Reuters) - Tencent Music said on Tuesday that it was 'premature' to speculate over a potential delisting, in response to a question on whether it had a plan to react to a recommendation from the Trump administration over auditing U.S.-listed Chinese firms. The company's Chief Strategy Officer Tony Yip made the comments during an analyst briefing after its quarterly results.

Reuters August 11, 2020 07:05:09 IST
Tencent Music executive says 'premature' to speculate over U.S. delisting

Tencent Music executive says premature to speculate over US delisting

HONG KONG/SHANGHAI (Reuters) - Tencent Music said on Tuesday that it was "premature" to speculate over a potential delisting, in response to a question on whether it had a plan to react to a recommendation from the Trump administration over auditing U.S.-listed Chinese firms.

The company's Chief Strategy Officer Tony Yip made the comments during an analyst briefing after its quarterly results.

U.S. Treasury Secretary Steven Mnuchin said on Monday companies from China and other countries that do not comply with accounting standards will be delisted from U.S. stock exchanges as of the end of 2021.

Yip said delisting was not the only option for firms. For example, they could choose to be co-audited by American auditors, he said.

(Reporting by Pei Li and Brenda Goh; Editing by Jacqueline Wong)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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