The report states that the France Ligue 1 champions have tabled an €8 million bid for the Brazilian fullback however, Galatasaray are holding out for at least €10 million.
The Lion’s recently signed Lionel Carole from Troyes following reports linking Telles with a move away from Istanbul.
The 23-year-old’s agent underlined that Telles is happy in Turkey and that he still has a lot more to offer the Istanbul giants.
“Otto has established himself as a first team player and wants to prove himself next season,” he added.
Telles joined Galatasaray on a €6 million transfer from Gremio last January. The young Brazilian provided a total of two goals and three assists in 56 games for the Lions last season.
Inter Milan are also understood to be interested in signing the 22-year-old fullback.