Fiorentina have tried to convince Vlahovic to extend his deal which runs until 2023 but he is looking to capitalise on his form and take on a new challenge.
La Viola could allow the goal machine to leave in January but only for a fee of £55million.
However, the Premier League champions are willing to splash out that amount to bring him to the Etihad.
The 21-year-old forward has notched 12 goals and provided two assists in 15 appearances so far to emerge as one of Europe's hottest properties.
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