BackWeb Technologies Ltd. may cancel plans to trade shares on the Tel Aviv Stock Exchange and seek registration in Frankfurt or London because of an inability to work out terms with the Tel Aviv Stock Exchange, Chief Executive Eli Barkat told Bloomberg on Wednesday.

"If the German stock exchange is the right thing to do and much better from the business perspective, then I will never let patriotism of any kind get in the way," Barkat said in an interview at his office. He would not detail disagreements with the exchange.

Barkat said his lawyers have encountered unspecified problems in dealing with the exchange.

"We want to find out if it works as advertised," he said. "As you go through the legal process, you identify that there are gaps."