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Reuters

Business

FTSE Russell proposes Xiaomi index re-inclusion after court suspends U.S. ban

FILE PHOTO: People wearing protective face masks visit Xiaomi brand's store, amid the outbreak of the coronavirus disease (COVID-19) in Kyiv, Ukraine October 22, 2020. REUTERS/Valentyn Ogirenko

FTSE Russell has proposed that Xiaomi Corp should be eligible for re-inclusion in FTSE Russell indexes effective from June 21, 2021.

The announcement came after a U.S. federal judge temporarily blocked the Department of Defense from forcing American investors to divest from Xiaomi on the grounds the company has ties to China's military.

FTSE Russell deleted Xiaomi from its indexes on March 12.

(Reporting by Samuel Shen and David Stanway; Editing by Shri Navaratnam)

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