Shares of Fiat Chrysler (FCAU) are moving higher in pre-market trading amid rumors of takeover interest in the company from South Korean automakers.

According to trading contacts, a report was published by Electronic News Publishing's "Auto Business News" that claims South Korea's Hyundai (HYMLF) and Kia Motors (KIMTF) are allegedly considering a takeover of Fiat Chrysler. ENP, of the United Kingdom, identifies itself as "a global press release distribution service that allows companies to distribute their news both via the world's largest news agencies and directly to individual journalists."

The Fly, in fulfilling its mission of explaining stock movement, often comes across the many unconfirmed rumors being passed through trading desks and social media platforms. On the occasion that rumors or speculation appear on The Fly's news feed, it should be viewed not as giving credence to the conjecture, rather as simply highlighting its impact on the stock prices of the companies involved.

Shares of Fiat Chrysler are up 66c, or 3.8%, to $18.03 in pre-market trading in New York.