Wolves have rejected a swap offer from Juventus for Raul Jimenez.
Juve chief Fabrizio Paratici is chasing a deal for the Mexico international as they negotiate a contract release for Gonzalo Higuain.
Raul would arrive in Turin as a replacement for the Argentine and as cover for Cristiano Ronaldo.
However, Paratici's opening bid for the striker has been turned down by Wolves.
Corriere dello Sport says Juve proposed a straight swap involving Aaron Ramsey - but it was turned down flat.