UPDATE 2-Generali, Agricole pact on Intesa suspended

* Generali CEO says all sides aim for agreement

* Pact suspended to June 30 - Generali spokesman (Adds comment from Generali spokesman)

MILAN, May 28 (Reuters) - A pact between Italian insurer Assicurazioni Generali (GASI.MI: Quote, Profile, Research) and French bank Credit Agricole (CAGR.PA: Quote, Profile, Research) on their combined stake in Intesa Sanpaolo (ISP.MI: Quote, Profile, Research) has been suspended, Generali's chief executive said on Thursday.

"At this moment the pact is suspended until we clarify the matter," Giovanni Perissinotto said on the sidelines of an event. "All sides intend to reach an agreement and ... want to resolve the issue in a positive way," he added.

A Generali spokesman later said the pact had been suspended to June 30.

"A de facto suspension, the sides have voluntarily agreed to suspend the consultations envisaged by the pact to June 30," the spokesman said.

Italy's antitrust authority is investigating whether Credit Agricole violated stake limit rules when it entered a shareholder pact last month for Italian bank Intesa Sanpaolo with Generali, Italy's biggest insurer. Their combined stake is 10.8 percent.

A source close to the matter said on Monday Credit Agricole was seeking a stay on an antitrust directive to reduce its stake in Italy's biggest retail bank. The source said that in exchange for delaying an order to reduce its 5.823 percent stake Credit Agricole could offer to abstain from having any governance role in Intesa Sanpaolo. Generali has a 5.07 percent stake.

Under antitrust rules set up in 2006 when the watchdog approved the merger that created Intesa Sanpaolo, Credit Agricole had to cut its stake in Intesa to not more than 5 percent by Jan. 1, 2008, and to less than 2 percent this year.

In launching its inquiry, the antitrust authority also said the pact violated its requirement that Credit Agricole should not have a say in the governance of Intesa Sanpaolo. (Reporting by Gianluca Semeraro; Editing by Greg Mahlich)