Following an in-depth review, Prime Minister Giorgia Meloni’s cabinet decided “in defence of strategic interests and national security” to place some conditions on the €13 billion (US$14.8 billion) acquisition before allowing it to go ahead, the government said late on Friday in a statement. No details regarding the conditions were provided.

UniCredit, run by chief executive officer Andrea Orcel, launched the unsolicited takeover bid late last year, throwing Meloni’s plans for a third major banking conglomerate in the country centered on Banco BPM into disarray. Officials in Rome, however, have signaled they had little room to block the deal despite it facing stiff political opposition, Bloomberg has reported.

Italy concluded its special process that allows authorities to block or impose conditions on transactions involving strategic assets under the so-called “Golden Power” rules, after a review began in January.

UniCredit said late Friday that it had received a copy of the approval. Italy may request constraints on UniCredit’s Russia business, to keep BPM’s loan-to-deposit ratio stable, as well as maintaining its project financing levels, Bloomberg reported earlier this week.

“The offer is approved with prescriptions, the merit of which is not clear,” UniCredit said in a statement. “UniCredit will be taking time to assess the viability and impact of the prescriptions on the company, its shareholders and the associated M&A transaction, liaising as appropriate with the competent authorities.”

Meloni’s government used its golden power prerogative last year, when it imposed restrictions on tiremaker Pirelli’s largest investor, China’s Sinochem International Corp., to limit access to information from sensors in Pirelli tires.

In contrast, Rome has recently cleared – with no conditions – Banca Monte dei Paschi di Siena’s takeover bid on Mediobanca and Banco BPM’s acquisition of Anima Holding.