The report states that the Ligue 1 champions PSG tabled the bid which was turned down by the Istanbul based side.
Galatasaray have subsequently raised Telles’ valuation to €15 million. Telles has received offers according to agent Fernando Otto.
The agent also revealed that Telles would have no trouble moving abroad in terms of visa restrictions due to having an Italian passport but underlined that he is happy in Istanbul.
Otto told Eurosport: “There are clubs that are making offers although none have been official and he could play for Chelsea and PSG without using a foreign player space due to having an Italian passport but he is happy at Galatasaray.”
Sky Italia reporter Gianluca Di Marzio recently claimed that Chelsea are on the verge of signing Telles.
Chelsea are reported to be considering making Telles an offer to replace Luis Filipe who recently joined La Liga giants Atletico Madrid.
The 22-year-old left-back provided a total of two goals and three assists in 56 games for the Lions last season.