FCA to spin off Maserati

Shares of Fiat Chrysler jumped more than 4 percent on Wednesday after a report said the Italian-American automaker is considering spinning off some of its upscale brands.

Maserati and Alfa Romeo are two luxury car operations Fiat Chrysler may shed as it seeks to streamline its business, Bloomberg News reported, citing a combined worth for the two of as much as $8.3 billion. According to Bloomberg, sources close to Fiat Chrysler believe the company hopes to make itself more attractive for merging with a competitor.

Fiat Chrysler was not immediately available for comment. It's also considering separating from some of its parts business, Bloomberg said.