AS Monaco have reportedly turned down an initial bid from Manchester City for full-back Benjamin Mendy.
Reports in recent days claimed that Pep Guardiola's side were "on the verge" of completing a deal for the 22-year-old, who caught the eye with his performances for the Ligue 1 champions last term.
According to The Telegraph, the scale of City's first bid "is not yet clear" but it is thought to fall short of Monaco's £40m valuation of the France international.
City have been quick to get their summer transfer business underway and have already raided Monaco for winger Bernardo Silva in a £43m deal, while the £34.7m capture of Benfica goalkeeper Ederson is thought to be effectively done.
The newspaper claims that Monaco are prepared to sell Mendy to City but will hold out for their valuation to be met.
Mendy is currently on international duty with the France squad and will be part of the side to face England in a friendly on June 13.
