VTB (RTS: VTBR) organizations have acquired 1.7 percent of the stock in the Bank of Moscow (RTS: MMBM) from a Swiss investment fund, writes Vedomosti business daily, citing anonymous sources. This puts VTB over the top in terms of gaining control over the Bank of Moscow. VTB had previously acquired 46.48 percent from the Moscow city administration and another 2.77 percent from Credit Suisse. VTB also has an indirect ownership line into the bank’s capital, as VTB holds a blocking stake in Capital Insurance Group, which owns 17.3 percent of the Bank of Moscow.

VTB is not commenting on Vedomosti’s report on the acquisition, saying only, “at this moment OJSC VTB Bank continues to hold a package of 46.48 percent of the stock of the Bank of Moscow and has not increased its stake to a controlling stake.”

VTB had initially planned to gain control over the bank by adding Goldman Sachs’ 3.88-percent stake to the one it obtained from the Russian capital’s administration. However, those shares were seized by a London court in the course of a law suit filed by a minority Bank of Moscow shareholder close to management (according to unofficially reports).

When the shares were released, they were bought up not by VTB, but by Suleiman Kerimov in a 7.1-billion-rouble deal.

Kerimov is a minority shareholder in VTB, during whose SPO his organizations bought 1.5 percent of the bank’s stock for USD 500 million. During the course of the VTB-Bank of Moscow merger, Kerimov can increase his stake in the Russian state bank to second-largest, Vedomosti writes.