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After NY exit, China Mobile eyes big U-turn with Shanghai listing

Company joins China Telecom and China Unicom in pivot back to roots

HONG KONG/BEIJING/SHANGHAI -- The three big Chinese state-owned telecom companies that delisted in New York this year are turning homeward to raise capital and expand their business as tensions with the U.S. and Beijing's regulatory clampdown hit the brakes on global expansion.

Two of the three, China Mobile and China Telecom, are set to list in Shanghai soon. The third, China Unicom, already has a subsidiary listed in Shanghai.

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