They are lining up a bid in the region of €7m, according to Fichajes.net.
Calcio News also report that the club are lining up a bid for the player, who is set to leave Bilbao in January with his contract up at the end of the season.
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The reputation of the Premier League means it is the most popular and one of the most watched leagues in the world.
Five English clubs will compete in the last sixteen of the Champions League for the first time ever as Liverpool, Manchester United, Manchester City, Chelsea and Tottenham face some difficult away matches.