Wolves are poised to sign Angers left-back Rayan Ait-Nouri on loan with an option to buy for £13.5million.
The 19-year-old will replace Ruben Vinagre who is joining Olympiakos.
Valencia had also been pushing to sign highly-rated Algerian Ait-Nouri but his agent Jorge Mendes has guided the teenager to the Premier League.
He made his farewell appearance for Angers in their 6-1 defeat at Paris Saint-Germain in Friday night.
Afterwards, Angers manager Stéphane Moulin said: ‘I wish him all the best. I am a bit emotional. Wolves? “It seems like it is heading that way.