MetroPCS files USD1.125 billion IPO

The US wireless operator MetroPCS has filed for a USD1.125 billion initial public offering (IPO). The Dallas-based firm plans to use the proceeds of the sale to roll out high speed mobile networks; it recently paid USD1.4 billion for advanced wireless services (AWS) spectrum covering 117 million people. MetroPCS, which offers flat-rate unlimited call packages to 2.6 million subscribers in 14 major US cities, cancelled plans for a USD500 million IPO in July 2004.