The People says Inter sporting director Piero Ausilio checked out striker Dzeko and left-back Kolarov in City's 4-2 Champions League win over Viktoria Plzen on Wednesday.
Bosnia international Dzeko scored their final goal. But the 27-year-old has started just four Premier League games this season, and is unhappy at being behind Sergio Aguero and Alvaro Negredo in the pecking order.
Serbia star Kolarov, 28, has a similarly uncertain role in Manuel Pellegrini's squad.
Under contract until 2015, he would relish a return to Italy - having spent three seasons with Lazio before joining City in 2010.
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