Monaco have rejected a £44.5m Manchester City bid for left-back Benjamin Mendy.
City are targeting Mendy as their latest big-money full-back after spending more than £50m to make Kyle Walker football's most expensive defender.
But sources last week told Sky Sports News Monaco also value their player at more than £50m, and City's latest offer has been dismissed.
Mendy won the French title in his first season with Monaco last year and also helped Leonardo Jardim's side reach the last four of the Champions League.
The 23-year-old hinted at a move to the Premier League last week when he posted an Instagram picture of himself in Union Jack shorts, accompanied by the caption: "See you soon."
City are in the market for a left-back following Gael Clichy's departure, although imminent new £26.5m signing Danilo has played there for Real Madrid.