Chelsea and Liverpool target Alex Telles has been the subject of a failed €35 million bid from Bayern Munich.
According to O Jogo, the Bundesliga champions have seen their bid rejected by Porto, with Juventus also keen on the Brazilian.
The report claims that Telles does have a €40 million release clause in his contract.
There are concerns in Germany over the long-term future of David Alaba, who has been linked with moves to Spain in the past.
Both Liverpool and Chelsea have expressed an interest in Telles previously, with the Brazilian impressing in Portugal.
Porto are desperate to keep hold of the player who is seen as a valuable member of the first-team squad.
The Portuguese side are keen to not lose any more defensive players with both Ricardo Pereira and Diogo Dalot moving to the Premier League this summer.
Pereira joined Leicester City and Dalot has joined Jose Mourinho’s Manchester United
