Commerzbank and UniCredit engaged in talks on Friday amid the Italian banking giant’s apparent attempt to take over Germany’s second-largest bank.

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Commerzbank’s incoming CEO, Bettina Orlopp, who is set to become the bank’s chief executive next month, has reportedly held a virtual meeting with UniCredit executives, with details currently under wraps. Orlopp revealed her intention to talk with UniCredit the day before, saying the two sides intend to “exchange views.”

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UniCredit acquired a 9% stake in Commerzbank earlier this month, which was considered an unexpected move. It then upped its holdings to 21% earlier this week before submitting a request to acquire another 8.9% and increase the stake to 29.9%.

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UniCredit’s move has met with criticism from the German government, which owns a 12% stake in Commerzbank, while the majority of Commerzbank’s leadership is opposed to the takeover and would prefer to remain independent.

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“Commerzbank is continuously expanding its independent position as a strong pillar in the German banking market and a reliable partner to the domestic economy,” Jens Weidmann, chairman of Commerzbank’s supervisory board, said in a statement earlier this week.

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Economists now predict a lengthy process in which UniCredit will continue to push for a merger while Commerzbank remains on defense. The predictions are that it might take months or even more than a year before the saga concludes.