Tuttosport says Conte wants to swap Luiz for Bonucci in January.
It's suggested Conte called Bonucci in October to ask if he was happy at Milan – and now wants “to bring the centre-back to West London."
Milan have already reacted to the Tuttosport story on the club's website – and claimed there are “dark forces" trying to unsettle their club captain.
The statement said: “Our match against Atalanta is fast approaching, a clash that all of Milan care deeply about.
“Our work at Milanello this week must be further honoured, with intensity and determination on the field.
“This is very important for the team and their captain, who continues to be the subject of dark forces, when in reality there aren't any.
“Instead, contact between two leading lights is normal: when there's esteem and affection, they're things that exist in the world of football."