(Reuters) – Chinese smartphone maker Xiaomi Corp was eligible to be included on indices again, S&P Dow Jones Indices said on Monday, after a federal judge suspended a U.S. investment ban in the company on the grounds it has ties to China’s military.
The Defense Department, under the Trump administration in mid-January, added Xiaomi and eight other companies to a list that requires Americans to sell their interests in the firms by a deadline.
S&P DJI said earlier this month it would remove certain securities included in the list but U.S. District Judge Rudolph Contreras suspended the blacklisting for Beijing-based Xiaomi, citing the U.S. government’s “deeply flawed” process for including it in the ban.
Indices that removed Xiaomi will review its securities for eligibility at their next scheduled rebalancing, S&P DJI said https://www.spglobal.com/spdji/en/documents/indexnews/announcements/20210322-1342959/1342959_spdowjonesindicesannouncementforluokungtechnologyandxiaomicorp22mar2021.pdf on Monday.
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