Is it a regular, deeper knocking sound like someone striking the engine block with a wooden mallet, or just something that happens occasional and less intense?
If it was a big end bearing it would be worse under load and you would still hear it when the car warms up.
My dad had a VS Commodore where a big end bearing bearing failed after 1500km, that was the characteristic of the sound. As you would expect, it was his last Holden.

If it only happens when cold, it could be piston slap. I don't think I've ever heard piston slap occurring in an MB motor, though. It is almost normal in Volvo red block four cylinders.
Is the engine running smoothly when this happens?
Tim