Manchester United and Valencia are competing for Benfica winger Enzo Perez.
Spanish media sources state United and Los Che are going head-to-head for the Argentina international.
Valencia are regarded as ahead of United in the battle for the 28 year-old, who was part of Argentina's World Cup squad.
Valencia came close to signing Perez over the summer, but could not settle on terms with Benfica.
Negotiations have kicked off again, with new Valencia owner Peter Lim, ironically a big United fan, taking personal interest in developments.
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