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BlackRock Selling Stakes in Sanctioned Chinese Mobile Firms (1)

Jan. 11, 2021, 7:59 PM

BlackRock Inc. has been selling stakes in three Chinese telecommunication providers after the U.S. put them on its sanctions list.

The world’s largest money manager reduced its holdings in China Mobile Ltd., China Telecom Corp. and China Unicom Hong Kong Ltd. in recent weeks and plans to keep selling, according to a person with knowledge of the matter. One of the biggest outside shareholders in the companies, BlackRock is responding to the executive order issued by President Donald Trump in November barring investments in companies deemed to be owned or controlled by China’s military.

The mandate was part of ...

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