The report states that the Serie A side wont to sign Telles on a season-long loan. Inter are also looking into the possibility of signing Felipe Melo from Galatasaray.
The Brazilian left-back has been closely linked with Chelsea and PSG over the summer.
The Daily Star reported that the Lions turned down a £5 million offer from Chelsea for the Brazilian full-back.
Galatasaray are understood to be holding out for at least £10 million for their star left-back.
Telles provided a total of two goals and three assists in 56 games for the Lions over the 2014-15 campaign and already has an assist this season.
The Brazilian joined the Lions on a £4.3 million move from Gremio in 2013 and still has another three-years left on his contract with the Istanbul giants.