One of the more galling mantras recited by the property absolutists, those who would prolong monopoly, is the Right to a Return on Investement. It's absurd, return on investment is a risk, and the reward is supposed to be related to the level of the risk. Telco's that require guarantees that they will gain all the return off their infrastructures are wanting (and while we might all want such a sinecure, wanting isn't getting, unless you are big enough to threaten the State) champagne returns for beer investment.

Capitalism is the right to choose your investment against the choice made for you by command and control centralised models. This does not protect our brave captains of commerce from the risk of regulatory or legislative change. Holding the State to ransom isn't something many companies can contemplate, I can't think of another description for what Telstra did in Australia. Change is a given, it doesn't come with a guarantee, nor does return on investment.

There is little risk in infrastructure, I expect frequencies, in the air, and in glass, will be returning at a rate correlated to the risk for ever. The risk at the services level will be shared, but the rewards will not be with infrastructure operators. The dairy that sells the winning Lotto ticket gets no share of the proceeds, it may gain valuable reputation, but that's all. Monopoly infrastructure operators definitely believe they have a right to a share in the rewards for the risk taken by their customers.