AB InBev is rumoured to have put famous British ale brands Bass, Boddingtons and Flowers up for sale.
The Times reports that the Belgian-based global brewer is seeking a buyer for Bass at around the £10-£15m mark.
However, the sale is understood to exclude the trademark and international rights — Bass is still popular in the United States.
Bass is now brewed under contract by Marston's and has suffered from a lack of marketing investment.
Boddington's, dubbed the cream of Manchester, has also suffered a tough time since its famous Strangeways brewery closed in 2005. It is now brewed under contract by Hydes in Manchester.
The Times reports that Marston's, Wells & Young's, Molson Coors and C&C Group have all ruled themselves out.
In March, AB InBev UK president Staurt Macfarlane told the Morning Advertiser: "Our focus is on Budweiser, Beck's and Stella, and I'm not apologising for that. I'm happy to say to the regional brewers, you take control of the cask-ale business — you do it better."
But he laughed off suggestions of a sale of Bass. "It's the world's number-one trademark," he said.
He also denied the company had neglected the brands. "Both those brands have a strong equity, there is an emotional attachment to them. But we don't see them in future growth, so they're not a priority."
AB InBev said it would not comment on the speculation.