The truth doesn't have to lie somewhere in between. Look at the last paragraph:

Even for ISPs running their own network, such as BT, [ISP CTO] Davies claims the figures of €0.01-0.03 per GB are "rubbish". "It's an order of magnitude greater than that," he claimed.

This is coming from a guy claiming that the "existing smartphone data tariffs of around €10 per GB" are too low. They're profit-seeking, and relying on their regulators to be as bad at math as they are.