Gremio defender Walter Kannemann is a target for Wolves.
He was linked with a move to Arsenal and then Atletico Madrid earlier this year.
The Daily Mail report that his current club would sell the Argentina international, nicknamed The Viking, for around £10m.
Wolves are looking for defensive reinforcements this summer as they prepare for the Europa League.
Kannemann started his career at San Lorenzo, before joining Atlas in 2015 prior to sealing a switch to Gremio a year later, and has made five appearances for Argentina.