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They can absolutely fine and jail those businesses for colluding to only operate in specific markets where other businesses agree not to operate.

The ISP's didn't collude with other businesses, they colluded with governments and got monopoly protections.

Also, notably, the governments colluded with them.

The government didn't collude, the government was taken for a ride, and doesn't have the balls to now go after their $400mil.

The ISPs colluded with one another so that they don't overlap territories and keep their exclusivity in given areas.