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Leap entering the 700 MHz auction

Despite it’s financial reporting errors and a possible class action lawsuit, Leap Wirless has announced that it will bid for in the 700 MHz spectrum auction. Of course, they won’t be gunning for the $4.5 billion, 22 megahertz portion that’s been reserved for open-access. Rather, they’ll bid on a smaller slice in order to fill out their network. So the company must have some level of faith in their revised reportings, which are scheduled to be released sometime this month. Dare we mention both MetroPCS and Leap buying spectrum separately and then merging?