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For the second time in nine months, Internet portal AltaVista on Wednesday withdrew its plan for an initial public stock offering.
The Palo Alto-based company cited unfavorable market conditions.
Last April, it postponed the IPO after Nasdaq stocks took a nosedive. AltaVista planned to sell 14.8 million shares at a range of $18 to $20 each.
AltaVista and its parent company, Internet incubator CMGI, have been hard hit by the collapse of Internet and technology stocks over the last year.
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