MetroPCS: Third time lucky

Telecom bankers have a lot to answer for. In the last year, the sector’s two big US initial public offerings have been disastrous. The stocks of Vonage and Clearwire have plummeted 80% and 25%, respectively, since their floats. Now, bankers are shopping the largest telecom IPO since 2004. Luckily for them - and investors - the $1bn float of discount cell phone operator MetroPCS looks like it will be more successful. MetroPCS is a pygmy competing against giants, but that isn’t necessarily bad. C...