Of the many things I have written on policy and regulation, there have to be a few that I regret, or were outright wrong. Sometime in 1999 or 2000, TERI asked me to write something about telecos in the developing countries getting into other businesses. Based on some earlier work–Regional Telephone Holding Companies: Structures, Affiliate Transactions, and Regulatory Options, NRRI 93-05 (Rosenberg, E. A, Borrows, J.D.