The cost would be borne by the consumers of Telcos / wireless services rather than by all taxpayers.

The Telcos would allocate funding / resources based on their financial position and their needs.

I dunno, tbh maybe the government can do a better job at right-sizing the service and running it efficiently than the private sector could? Maybe! But it feels like most arguments along these lines would also apply to the Telcos themselves, i.e, if government can do a better job why not nationalise the Telcos?