The 24-year old defender is being tracked by Premier League outfit Wolves but it appears that the Foxes are trying to hijack the potential deal.
Reports suggest that Leicester have matched Wolves' offer of around £3million with Royals boss Brian McDermott indicating that both clubs will need to offer more if they really want the former Manchester City youngster.
"We've had an offer from Wolves which was turned down. It was way off our valuation. I don't know if they will come back for more," he told The Chronicle.
"They may do but I don't want to encourage clubs to bid for our players.
"That's not part of my agenda. I want to keep our squad together, and add to it if possible."