Yeah that would explain it. We don't have anyone who would have that kind of power.
In my country the big telecom companys were broken up in the mid 90s under anti-competition laws. Most of Europe has either done something similar or never really had a big mega corp in that position to begin with.
It's worth noting that the fastest internet in the world is in South Korea. Because they have their entire network rebuilt a couple of decades ago for some reason probably some war something.