Continuously expanding applications of information and communication technologies (ICT) are transforming local, national, regional and international economies into network economies, the foundation for information societies. They are being built upon expanded and upgraded national telecom networks, the new information infrastructures. The point of entry to participation in these new economies and societies is through local communication networks, which determine the access possibilities and boundaries of opportunity for individuals, organisations and countries. The telecom reform process is directed to creating an environment to foster a massive expansion in the coverage and capabilities of the information infrastructure networks, with national telecom regulators as the key implementers of the policies of reform. The first phase of reform has focused on industry specific telecom policy and regulation, with mixed results and generally slower than expected progress. The second phase, now being formulated in most countries, is influenced primarily by experience to date and the rapid changes underway in technologies, markets and industry structures. This report examines the main alternatives being considered – ICT convergence regulation and multisector utility regulation. Whatever structure of next generation telecom regulation is adopted, all countries will need to pay much greater attention to the need for increased coordination of policy directions and regulatory activities both across the industries and sectors examined here and with other countries. This report provides an assessment of evidence and a framework for analysis that will assist countries in examining the issues, options and implications, as they establish the policy objectives and design the structure of their particular next generation telecom regulation.