Television web portal Yes TV has become the latest victim of the recent heavy share falls on the US and European stock markets.

Yes TV, which last month announced its intention to float on the London Stock Exchange through a global offering of shares, will postpone its plans in light of last week's US stock market fall.

The web portal, which plans to offer services such as video-on-demand and high speed internet access, said in a statement that it "considered it appropriate to postpone pricing and allocation of its 'global offer' due to the sharp fall in US stock markets".

The stock was due to be traded on the London Stock Exchange on 26 April and was expected to raise £193m for developing the company's UK and international services. Yes TV said the global offer has already been oversubscribed.

In the US, internet search engine AltaVista also said it will postpone its initial public offering (IPO) after the rapid decline in the stock market. The company was due to offer 14.8 million shares next week.

Across Europe, stock markets have suffered heavy share falls again this morning, mirroring the sharp fall in US stock markets on Friday.

In the UK, the FTSE 100 index fell to a six-month low within the opening minutes, while the technology index Techmark 100 was down by more than 11 per cent.

See also:

Yes TV says no to flotation - again

TV portal and video-on-demand company Yes TV has postponed its initial public offering for the second time, blaming adverse market conditions in the technology, media and telecoms sectors.  22 May 2000

AltaVista Europe hints at IPO

Pierre Paperon, AltaVista Europe's new president, has said that the European arm of the company can be profitable by the end of this year, and should be floated separately from its US parent.  11 May 2000

Hi-tech stocks take another tumble

UK technology stocks took another pounding during early trading on Thursday, reflecting massive falls the day before on Nasdaq. The index fell seven per cent, the second largest drop in its history.  14 Apr 2000

City crash gives respite to dotcom stocks

London Stock Exchange (LSE) chiefs have yet to give a full explanation of what caused their computers to crash on Wednesday, but at least the failure gave some reprieve to hi-tech stocks that were otherwise in line for another hammering.  06 Apr 2000

City trading paralysed by computer glitch

A computer systems problem is being blamed for paralysing the London Stock Exchange (LSE) for several hours today - the last day of the financial year.  05 Apr 2000

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