While Baptista has declared he wants to stay with Real, Mijatovic is eager to balance the books with his sale, particularly after the arrival of Wesley Sneijder from Ajax this week.
Real are seeking £10 million for the Brazil international and Mijatovic is banking on Galliani to return in the coming days with an improved offer.
Meanwhile, the two powerbrokers also discussed Emerson's situation, with Galliani leaving the meeting knowing it will take £7 million to sign the ex-Juventus midfielder.