1) Technically, Yes, but...
The odds that you would block a valid, bone fide, user are slim.
In some cases the IP belongs to a particular company (not a telco company, I mean), and therefore only agents from this company would be expected to come this way (or spammers using some relay/proxy at this company...)
In other cases, as seems to be the case here, the IP belongs to a telco
company, i.e. an Internet Service Provider of sorts. In these cases one runs the
chance of blocking a legitimate user if such user e happens to be in a geographic
location where the ISP may supply this IP to them. This said, even by
blocking the whole class C (i.e. all IPs starting by the first 3 octets of the
address), the odds of ever having a valid user coming under this IP are small, in
particular if the ISP/IP are from a country when you do not have many users.
2) By querying whois registies such as RIPE for Europe, ARIN for North
America or APNIC for Asia-Pacific, one can find the registrant for the IP. In
many cases this links to a TelCo/ISP type of company, however even in those cases
it provides an idea of the origin.
3) In case of repeated/severe abuse it may be worth notifying (by mail or even
phone), the contact associated with the IP. However given the pervasive nature
of spam, many companies have found that building better barriers for their own
mail system is preferable.
There is no "top" authority of the Internet which would have the ability to police spamming activity, however there are a few organizations which maintain lists of known spam-related domains and ips. It is possible to contribute suspected IPs as well as to subscribe to the blacklists.