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Money News

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

FILE PHOTO: Tencent Music Entertainment company is seen officially listed on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December 12, 2018. REUTERS/Bryan R Smith

HONG KONG/SHANGHAI (Reuters) - Tencent Music TME.N 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

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