PARIS, France, Jan 13, 2026 (BSS/AFP) - The European Central Bank (ECB) has lifted the 20-percent threshold on Credit Agricole's stake in Italian competitor Banco BPM, the French bank said on Monday.

That ruling, made January 9, comes half a year after Credit Agricole had submitted a request to have the limit removed in early July.

Banco BPM, Italy's third-largest bank, has been embroiled in the aftermath of a hostile takeover bid since November 2024 by second-ranked UniCredit.

"As previously communicated, Credit Agricole S.A. has no intention of acquiring or exercising control over Banco BPM and will keep its stake below the mandatory tender offer threshold," the Paris-based financial institution said.

Italy's mandatory takeover bid threshold is set at 25 or 30 percent, depending on the company's size.

The country's financial institutions have had to contend with a spate of hostile takeover events by the biggest players, with the government of far-right Prime Minister Giorgia Meloni wading into the fray.

UniCredit withdrew its offer for Banco BPM in July after Meloni's administration blocked the bid.

Giuseppe Castagna, Banco BPM's CEO, had expressed a preference for a Credit Agricole merger in an interview in September.

"It's for sure something that could be good for the Italian economy," Castagna told CNBC.