My immediate response is "No way, Jose`!"
I'm not concerned about the "commerce" aspect that is exercising the minds of the many "western" governments. What concerns me is that once the UN, probably the least democratic and least efficient organisation we've yet managed to create, gets control of the "information highway" we could find ourselves being fed only the latest propaganda for certain "special interest" and "Non Government Organisations" and all alternative views and information being denied.
When you realise that the General Assembly is made up of a majority of totalitarian and marginally democratic governments, you very quickly realise that you would soon see them campaigning for the banning and shutting down of all websites and information streams they don't like. They are trying to pass this power grab off as "just an extension of the existing telecommunications treaty." Yeah, we've heard that one before, and anyone who regularly travels to some of the more deprived parts of the world will also know that many of them already use clauses in that treaty to restrict access to telecommunications, shut opposition movements out of them, or monitor private and business usage.
No, the United Nations is entirely the wrong organisation to allow to regulate the internet in any way, shape or form. It will simply become an excuse for all the advocacy propagandists, all the authoritarians and all the control freaks in every capital in the world to make use of the "international law" to once again attack the freedoms our forefathers fought so hard to win.
Let the UN regulate the Internet? No, no, no and again no!