United have held talks with Santos about signing Soteldo, according to local journalist Jorge Nicola.
It's suggested United held a meeting at Santos' headquarters in São Paulo in February but were put off by the €25million asking price for the winger.
The 22-year-old, who represents Venezuela at international level, stated earlier this year: "I've been following Cristiano Ronaldo since I was a child, I saw him at Manchester United and that's why my love and desire to play at Old Trafford.
"I would choose them easy. I would sign a lifetime contract."