UniCredit, the Italian banking group, is seeking to acquire a 29.99% stake in Germany's Commerzbank. The proposed minority stake is currently under review by the German Federal Cartel Office (Bundeskartellamt) and the European Central Bank (ECB), with the ECB poised to approve the investment as early as March. UniCredit already holds a direct stake of approximately 10% in Commerzbank and an additional 20% through derivative instruments, which could be converted into shares. Commerzbank's stock recently reached a 14-year high, partly driven by UniCredit's interest. The move has sparked concerns in Germany, with political opposition citing fears of losing one of the country's key financial institutions to a foreign competitor. Friedrich Merz, Germany's incoming chancellor, has expressed strong opposition, describing the potential acquisition as "devastating." Commerzbank has also announced plans to cut 3,900 jobs, primarily in Germany, as part of a strategy to resist the takeover.