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Yes TV, Altavista join crowded pre-IPO bench

Yes Television will delay its planned flotation on the London Stock Exchange. Altavista agrees market conditions are too volatile and has delayed its Nasdaq listing.

Yes Television, the UK provider of video-on-demand services, said it would issue a statement to the LSE at the starting of trading today announcing it will delay its planned £800m flotation, but will keep its options open.

Altavista, the US internet search engine, gave no indication of when it would next consider a flotation on the Nasdaq, after deciding current market conditions were too volatile to proceed with its planned $255m listing.

The two announcements confirm the continuing slide in tech stocks is slowing down the pace of IPOs in European and US markets.