The German state-owned railway operator may seek a valuation of 1 billion euros ($1.08 billion) to 2 billion euros in any deal, the report said, citing people with knowledge of the matter.
The report said that the railroad operator is working with advisers to measure interest from potential buyers including investment funds and rival transport companies.
Deutsche Bahn and Arriva did not immediately respond to Reuters' requests for comment.
Reuters, citing Deutsche Bahn's chief financial officer, reported early last year that the company was working on preparations for the sale of its Arriva regional passenger transport subsidiary.
Reuters had exclusively reported in December that Deutsche Bahn's management board has asked its supervisory board for the go-ahead to prepare a sale of its international logistics subsidiary, Schenker.
($1 = 0.9270 euros)
(Reporting by Sneha Bhowmik in Bengaluru; Editing by Maju Samuel)
