English papers reported on Wednesday that the Brazilian was spotted having a medical in Manchester.
Fernandinho has starred for Shakhtar in recent times and would join Jesus Navas at the Etihad as new signings for next season.
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Liverpool have unveiled their new home kit for next season, sticking with the hugely popular retro styling of the current shirt.
The reputation of the Premier League means it is the most popular and one of the most watched leagues in the world.