GDI plans €1bn London listing

German start-up Game Domain International (GDI), which has created a virtual world for on-demand game downloads, is reportedly set for a dual listing in Frankfurt and London.

Due in early 2008, the IPO would value the Virgin-backed company at some €1bn (£670m), even though it won't launch commercially until later this year.

If you're anything like me you probably think this valuation is crazy. And it is.

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