T-Mobile US, fresh from raising $3.8 billion in the space of little more than a week, is reported to be looking to buy spectrum assets currently not used by Verizon Wireless.

According to Reuters, T-Mobile US is eying up Verizon’s  “A Block” frequencies in the 700MHz band.

Verizon Communications, expected to take full ownership of Verizon Wireless in early 2014 after buying out Vodafone, indicated recently it might consider selling the spectrum.

An analyst, quoted by Reuters, estimated T-Mobile US might have to splash out as much as $3 billion for the unused airwaves.

T-Mobile US, however, has beefed up its balance sheet considerably through a mixture of equity and debt financing.

On 12 November it raised $1.8 billion through a sale of common stock, while on 18 November it drummed up $2 billion from a bond sale.

Although on the lookout for more spectrum, T-Mobile US has nonetheless ruled itself out from participating in the auction of 1900MHz PCS spectrum (H Block), scheduled for January.