Germany’s Commerzbank is looking to acquire a mid-sized German bank as a strategic move to prevent a potential takeover by Italy's UniCredit, reported Reuters citing sources. The discussions are in preliminary stages.

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The German government said it wouldn’t be able to thwart an acquisition of Commerzbank AG by UniCredit SpA, highlighting the limited influence it has despite its fierce opposition to the potential deal.

Commerzbank is considering buying a mid-sized German bank as part of its strategy to fend off a possible takeover by Italy's UniCredit , three people with knowledge of the matter told Reuters.