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(Reuters) - China Mobile has approved plans for a potential HK$47.08 billion ($6.06 billion) listing in Shanghai, weeks after the telecom firm said it would be delisted by the New York Stock Exchange in line with U.S. investment restrictions dating to 2020.
The mainland s largest wireless carrier said on Monday it plans to sell no more than 964.8 million shares, or 4.5% of its total issued shares, publicly on the Shanghai Stock Exchange at an undisclosed price.
Shares of the company closed at HK$48.8 on Monday.
China Mobile, China Telecom and China Unicom said earlier this month they expect the NYSE to notify regulators of their delistings after an unsuccessful appeal by the companies to revert the move.
HAMMOND â Former Portage Mayor James Snyder failed in his attempt to characterize a $13,000 payment he accepted from a local trucking firm as a gratuity, but probably not a reward and in no conceivable way a bribe, federal prosecutors said in a document filed Sunday. The trial evidence would support a finding that, sometime prior to the contracts being awarded, Snyder solicited or demanded or agreed to accept payment later from the Buhas (then-owners of Great Lakes Peterbilt) intending to be influenced in connection with the garbage truck contracts, prosecutors said in challenging Snyder s attempt to reverse his March conviction on a federal bribery charge.