Or, perhaps, it should be nationalized. If it's such a critical piece of infrastructure that dissolving it would be unthinkable, but it also can't be competed with in the marketplace... It could be removed from the marketplace.

This isn't unheard of for communications technology. Postal service in England was exclusively a Crown privilege, then the monarchy realized there were benefits to the Empire if everyone could use the system, and that was such a good idea that when the US Constitution was written it asserted the government had to provide a postal service. There is past precedent for a government-oversight private enterprise in the US.

It's not only not unheard of, this just happened with US Steel in June. The president currently has essentially full control over the board and veto rights to just about any decision that the company makes, which effectively nationalizes it.