Wolves are very keen to sign Manchester City's James McAtee but it would be treated separately to the deal for Matheus Nunes.
City have made an improved offer of around £52m for Nunes and Wolves like McAtee and his clubmate Tommy Doyle.
Ajax, Sheffield United and Leicester City also like McAtee with a move to Holland particularly appealing as a potential replacement for Mohammed Kudus.
However, City are not willing to sell the 20-year-old as he is viewed as a player who can compete for a starting place in the long term.