Currently with the Portugal squad this week, Cancelo discussed his career plans with local reporters yesterday.
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The former Manchester City, Barcelona and Inter Milan star said: "Of course I dream of returning to Europe.
"I still have this year and another year left on my contract with Al Hilal. I'm always open to new adventures. I'd love to return to Europe.
"Benfica? I've always dreamed of playing for Benfica, it depends on what the future holds. I will always dream of playing for Benfica. It was the club that shaped me, as well as Barreirense.
"My desire to return to Benfica is always strong."