The 17 year-old striker has accounted for a total of six goals and one assist in 21 appearances, 13 of which have been starts in the Greek league.
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Local transfer journalist Giannis Chorianopoulos is reporting: "Manchester United contacted Olympiacos for Charalampos Kostoulas.
"Olympiacos are not considering to sell Kostoulas during summer transfer period."
Kostoulas' contract with the Greek club extends until the summer of 2030.