Leicester City's improved bid to sign AS Saint-Etienne centre-back Wesley Fofana has been rejected by the Ligue 1 club.
The Foxes have held a long-term interest in signing Fofana, who was reportedly available this summer.
However, according to L'Equipe, Leicester's latest offer of €32m (£29.5m) has been knocked back by the Ligue 1 side. The bid, which was made on Monday night, is Leicester's third offer to AS Saint-Etienne for the centre-back, and even included a 10% sell-on clause.
Former Leicester manager Claude Puel is the current man in charge of Fofana at Les Verts, and is said to be a big fan of the youngster.
The 19-year-old also signed a new deal with the French side in April, hence why Les Verts are reluctant to let him leave so soon after committing his future to the club.
Fofana has played a key role in AS Saint-Etienne's opening fixtures of the new campaign. The centre-back helped keep clean sheets in the first three matches, before the side recently drew 2-2 with Nantes - a game Fofana missed due to a knee injury.
With the Foxes taking part in the UEFA Europa League this season, manager Brendan Rodgers has expressed his concerns over squad depth in a recent press conference. He said: "No we don't [have the squad depth] and that's something I've been clear on.
"When we lost players of quality last season we didn't have enough depth. Hopefully, in the following weeks we'll have more clarity.
"We have to find a solution. We wouldn't want to be in this position, having one centre-half available.
"Chelsea finished a place above us, and if you look at what they've been able to do, you can't compare that. We're in a different market of players."