The Brazilian left back has been closely linked with a move away from the Istanbul based club over the past week.
“PSG, Inter and three other clubs are interested in signing Alex Telles,” Otto was quoted as saying by Sporx.
The Sabah newspaper report that Galatasaray will not consider offers under €10 million for Telles and the Brazilian full-back still has another three-years left on his contract.
Chelsea are reported to be considering making Telles an offer to replace Luis Felipi who recently joined La Liga giants Atletico Madrid.
Telles has however, established himself as a key first-team player and played an important role in Galatasaray winning the double last season.
The 22-year-old left-back provided a total of two goals and three assists in 56 games for the Lions last season.