The Portugal international is set to be sacrificed by VCF this summer as they seek player sales to help balance the books.
La Razon says Wolves are keen and willing to discuss a cash plus player exchange.
Wolves are prepared to include Rafa Mir in their offer for Guedes, who Valencia rate at €40m.
Mir has spent this season on-loan with Huesca, where he has been outstanding and is attracting interest from bigger LaLiga clubs.
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