The storm is coming " APT700 - 700 MHz Band Auction for Mobile Broadband "

Although 700 MHZ band is utilized well by US in the past, but in the recent past around 2010 Asia-Pacific Telecommunity (APT) developed the APT700 bandplan to offer the mobile broadband. Mainly focussing on 3GPP Standardized LTE Technology as the vehicle to utilize the 700 MHZ band for better coverage/speed for MBB services.The same has been adopted by Latin America. 

Meantime in US AT&T and Verizon already aggregated their 700 MHZ holding to implement the LTE Technology in widespread.

The benefits are...

• TRUE GLOBAL ROAMING OPPORTUNITY
• SIMPLE UE Hardware and Battery Saving
• Less CAPEX/OPEX for better MBB Services compare to other bands.

The frequency range : 698-806 MHz

Supports both TDD/FDD Mode technology of LTE.

Telstra is one of the major supporter for the same. Australia is one of the landscape that requires such benefits like Better Coverage + Better Speeds.
GSA-the Global mobile Suppliers Association too backing this strongly.

1. The field test carried out by Huawei proves to be 3.6 times of 1800 MHz band and 6 times of 2600 MHz band.
2. In addition to coverage benefits  throughput also 30% / 65% more compare to a 1800/2100 MHz spectrum.

India is planning to do the auction not before 2015 End, GSMA is pursuing the Govt. of India to release the roadmap soon. 

Going to be action full years ahead of us.

There will be two major fractions in future Operators with 2100/1800 band and Operators with 700/800/900 bands. The former being the target for "Small Cells" vendors. :-))

References : 

http://en.wikipedia.org/wiki/APT_band_plan_in_the_700_MHz_band#History
http://www.gsacom.com/apt700/
http://www.gsma.com/spectrum/wp-content/uploads/2013/07/ZTE-LTE-APT-700MHz-Terminal-White-Paper-ZTE-JUNE-2013.pdf