Telecom and Pacific Fibre UFB

In the wonderful world of free markets, it is interesting to note that attempts to provide a second UFB link to the US from New Zealand have failed with Pacific Fibre's announcement on 1st August 2012 that it has been unable to secure the USD 400 million needed.  This leaves foreign-owned Telecom as the only provider.  Telecom is the same company which has been repeatedly fined for breaches of the Commerce Act, the latest being a record NZD 12 million fine for 'unlawfully charging competitors disproportionately high prices for wholesale access to its network.'   One can only hope that the same thing will not happen again.This is also the same Telecom which is also receiving over NZD 1.2 billion from the government for a new telephone network, when the  UK's Orange network has invested GBP 1.5 million for its 3G network.  (Since when was the free market about monopoly power - I thought that was a bad thing when governments did it?)