That is according to O Jogo, who report that Wolves manager Nuno Espirito Santo is a huge admirer of the Brazilian and is interested in signing him, following the shocking coup of Rafa Mir from Valencia under Real Madrid's nose this week.
However, it is also being reported that Chelsea have already stepped out ahead of the other suitors and are close to finalising a £25m deal with Porto.
The Portuguese club want £30m for their player, but the Blues are careful not to upset the balance as it relates to Financial Fair Play and are going ahead with negotiations based on their initial offer.
According to multiple reports, Chelsea are nearing a deal for Porto’s Brazilian fullback Alex Telles. The fee is believed to be €25m. ⚽️ pic.twitter.com/pHPj6ogvYN— 100PercentChelsea (@100PctChelsea) January 6, 2018
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Galatasaray are said to be monitoring the developments as well, as they are set to rake in 10% of Telles' transfer fee, due to the sell-on clause included in his deal when he was sold to Porto by the Turkish side back in 2016.
The Blues are intent on signing another left-back to compete with Marcos Alonso, having failed to bring in another left-sided defender during the summer and are believed to have identified Telles as a favourable option.
Juventus and Brazil star Alex Sandro was pursued at the end of last season to no avail, and the Londoners are said to have fixed their cross hairs on Telles this month, as certain members within their hierarchy opposed to paying the £60m fee the Turin-based side are demanding.