The Russian broadcaster CTC Media is set to undergo another change in its ownership structure.

Citing a source close to CTC Media, Vedomosti reports that Russia’s VTB Group, which is a global provider of financial services, operating on more than 20 countries, has purchased additional shares in Cyprus-registered Telcrest, which owns 25.3% of CTC Media.

Telcrest is not involved in the restructuring of CTC Media, brought about by the need to comply with new restrictions on the level of foreign ownership in Russian media companies.

As previously reported in Broadband TV News, UTH Russia has agreed to buy 75% of CTC Media, which currently lists Modern Times Group (MTG) as its largest shareholder with a 38% stake in the broadcaster, for $200 million in cash.