News Burst: Geldof rules out flotation

Rock star and entrepreneur Bob Geldof has ruled out a flotation for his travel-bookings company, (See Internet IPO bubblers ).

Criticising the UK finance establishment for a failure to understand technology companies, Geldof commented that e-business is the "new rock and roll", but continues to baffle UK investors.

Geldof made his remarks at a New Statesman conference Thursday, where industry observers blasted the UK markets for being slow to recognise the importance of the tech sector, and warned that Nasdaq could pose a serious threat to emerging high-tech exchanges such as London's techMARK.

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