July 11, 2017 / 9:48 PM / a year ago

U.S. index providers to consult investors on telecom index revamp

NEW YORK, July 11 (Reuters) - Two major U.S. stock index providers on Tuesday said they plan to consult investors on changes that could result in the reclassification of telecommunication companies in widely used equity benchmarks.

S&P Dow Jones Indices and MSCI Inc, which together manage the Global Industry Classification Standard (GICS) industry taxonomy for indexes, said in a joint statement that the changes could include renaming an existing sector or creating a new industry grouping altogether.

Reporting by Trevor Hunnicutt; Additional reporting by Caroline Valetkevitch; Editing by Sandra Maler

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