As a counter point I live in the Baltic states (however I think the situation is very similar in most ex-communist countries in eastern Europe) and free market capitalism has worked relatively exceptionally great here.

Both for cellular and wired internet there is no price regulation and very little regulation regarding ownership/mergers however there are many competing companies in both areas and due to this competition you can get 100Mbps for less than €10, 1Gbps for around €20 and uncapped cellular plans also go for around €20. I hardly see how additional regulation could improve this situation, probably would only result in less choice and higher prices..