China has temporarily blocked planned cross-border listings between the Shanghai and London stock exchanges because of political tensions with Britain, five sources told Reuters.
The news comes after negotiations between the British steelmaker failed with Turkish military pension fund Ataer, forcing the UK company to seek further assistance after falling into administration in May.
Boris Johnson's National Security Council will sign off its decision this week. Chinese firm Huawei will be allowed to supply equipment for the 5G network. Plans were halted after fears over possible Chinese espionage were raised. The White House has urged allies to shun the firm, accusing it of spying.
Boris Johnson vowed on Sunday he would not quit as Britain's prime minister even if he fails to secure a deal to leave the European Union, saying only his Conservative government can deliver Brexit on Oct. 31.