Andrea Orcel, CEO of UniCredit SpA, has made a significant move by acquiring a 9% stake in Commerzbank AG, potentially paving the way for a full takeover, which would be the largest cross-border deal in the EU since the financial crisis. This acquisition has prompted discussions among Commerzbank, the German government, and Deutsche Bank regarding a complete merger, marking a shift in negotiations that have long eluded UniCredit. The German government recently announced its intention to sell down its stake in Commerzbank, creating an opportunity for Orcel, who expressed a flexible approach to future decisions on the stake. While the path to a full acquisition may take months, the initial move has already positively impacted UniCredit's share price and shareholder confidence. Orcel remains patient and open to various strategies moving forward, emphasizing the importance of their recent entry into negotiations. This development underscores a significant moment in European banking as mergers and acquisitions gain momentum.