Google and IDG-backed on-line media company Xunlei cancels float due to choppy markets after delaying the listing in July.

China-based digital media company Xunlei, backed by US-based media company International Data Group and US-based search engine Google, cancelled a planned $139.8m initial public offering in the US. 

In its filing with US regulator the Securities and Exchange Commission, Xunlei said "In light of the current capital markets condition, the Company has determined not to proceed at this time with the offering."

Xunlei had filed to list in June, it then subsequently said in July it was postponing…