Diageo (DEO) is looking into potentially spinning off or selling its premier beer brand Guinness that would likely be valued higher than $10 billion, Bloomberg reported Friday, citing unnamed people familiar with the matter.

If it decides to go ahead, the company could consider a listing while also measuring takeover interest, the people reportedly said.

Also under review is the company's 34% interest in LVMH's Moet Hennessy drinks division, the report said, citing the people.

The company could deepen its ownership or exit the venture. LVMH is obliged to buy the stake if Diageo decides to sell it, according to the report.

No decisions have been finalized and there's no certainty that any deals would be struck, the report said.

Diageo is already mulling a sale of Ciroc Vodka, a product once backed by music mogul Sean "Diddy" Combs, according to Bloomberg.

Diageo and LVMH didn't immediately respond to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 123.76, Change: +4.78, Percent Change: +4.02