...Rostelecom PJSC is Russia's fixed-line telecoms incumbent operator that has grow n into the largest broadband and pay-TV provider. The company is a key contractor in a number of nationw ide projects and benefits from regulatory provisions, w hich effectively preserve its role of a vital netw ork provider and limit infrastructure competition. The dominant government shareholding in Rostelecom is likely to contribute to balancing shareholder distributions w ith maintaining moderate leverage....