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.

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.

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.

Germany’s new finance minister used his first public speech since taking office to voice sharp criticism of the tactics UniCredit SpA used in building a major stake in Commerzbank AG.