Tuttosport claims the Rossoneri could make a move for the duo as their are keen to strengthen at the back.
Panucci played for AC Milan from 1993-97 and reports claim he would be interested in a return to Milano.
The veteran’s contract with Roma expires at the end of the season.
AC Milan are ready to make a €15million bid, plus Ignazio Abate and Yoann Gourcuff, for Mexes.
