Leicester have had a £25m bid for Islam Slimani turned down by Sporting Lisbon, according to Sky sources.
The Portuguese side rejected the bid in the early hours of Tuesday morning - they want £34m for the striker.
Sky Sports News HQ understands the Algeria international is keen on moving to the Premier League champions, who look set to sign his Sporting team-mate Adrien Silva.
Slimani scored 27 times for the Lisbon club last season.
West Bromwich Albion are monitoring the situation and may yet put in a bid of their own.
Slimani,
28, scored twice for Algeria at the 2014 World Cup. He joined Sporting
in 2013 and has made over 100 appearances for the club.
Sporting have already brought in a possible replacement for Slimani by signing Bas Dost from Wolfsburg for an undisclosed fee.
The
27-year-old, who joined the Wolves from Heerenveen in 2012 and scored
36 goals in 85 Bundesliga appearances, made his final appearance for the
German club in their 2-0 win at Augsburg on Saturday.
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