Question

A large telephone company has hired lobbyists to try to persuade lawmakers to reduce governmental regulation over the telecommunications industry. Why is the most likely reason the company would do this?

Answer 1

The most likely reason the company would do this is to increase their profit and reduce cost made by those governmental regulations.
The government makes regulation for creating a fair business environment in a country, but several regulations could increase the cost for specified industry. Governmental regulations can be seen as an opportunity or a threat for a company's business.

Answer 2

A likely reason could be that the telephone company may be worried that the governmental regulations may infringe on their ability to offer specials on phone usage so they can compete with other providers.