It is reported that Inter have a deal to take Wallace on loan from Chelsea and are close to Wellington too.
The Nerazzurri played against Chelsea in the Guinness International Champions Cup last night , losing 2-0 with Hugo Campagnaro sent off.
It’s believed the two clubs took that opportunity to discuss the final details for Wallace.
Inter are set to take the 19-year-old right-back on a one-year loan, though they hope to renegotiate at least co-ownership status at the end of the season.
Although Wallace is a right-back, Walter Mazzarri’s use of the three-man defence means he’ll be on the right wing.
He joined Chelsea for £4.7m in January 2013, but spent the last six months on loan at his old club Fluminense.
Inter are also working on another Brazilian target, as Sky Sport Italia maintain they are close to capturing Sao Paulo midfielder Wellington.
The 22-year-old is valued at approximately €5m (£4.4m).
Think you know your Italian football? Share your knowledge, tips and comments to win cash prizes in OLBG's tipster competition  - £11,000 to be won monthly!