The future of undersea Internet cables: Are big tech companies forming a cartel?
I think it's a bit far fetched to describe the current situation as a cartel.  First, what is the function of a cartel?  It's to coordinate supply to keep prices high.  Do we really think that anything the content players have done so far would indicate any of them are trying to set pricing higher?  Hardly.  Second, the reason they are taking positions / building their own is that there isn't a business case to build these cables without them.