MILAN (Reuters) - Banca Popolare di Milano (>> Banca Popolare di Milano) is to cut its stake in asset manager Anima Holding (>> Anima Holding SpA) to avoid having to launch a full takeover bid for the group, following a ruling on Monday by Italy's market watchdog Consob, sources familiar with the situation said.

Banca Popolare di Milano owns 16.8 percent of Anima but has a shareholder pact with Italy's post office Poste Italiane (>> Poste Italiane SpA), which bought a 10.3 percent stake from Banca Monte dei Paschi di Siena (>> Banca Monte dei Paschi di Siena SpA) last year.

Consob said the two stakes should be should be considered as one, which means it exceeds the 25 percent threshold that triggers a mandatory takeover bid, BPM said.

BPI said in a statement it was looking at the best way to comply with the regulator's decision.

The bank is getting ready to cut its stake in Anima by at least 2.1 percent in the short term, to take it under the 25 percent threshold, two sources close to the matter said.

Last year, BPM had already signalled its intention to sell part of its stake in order to avoid having to launch a bid and to complete the disposal by June 25.

(Reporting by Valentina Za and Francesca Landini. Editing by Jane Merriman)