According to A BOLA, Wolves are close to selling Adama Traore and view 27-year-old Corona as the perfect replacement.
Wolves have already had a bid of between €22m and €24m rejected by Porto, who want €30m.
The player’s release clause is €30m and Porto have no plans to release him for anything less.
Corona was widely considered to be the best player in Portugal last season. His 14 assists and three goals helped fire Porto to another Liga NOS title.
The Mexico star would suit Nuno Espírito Santo’s system at Wolves. He is capable of playing in a 3-4-3 either as a full-back or right winger.
They followed that up by acquiring Vitor Ferreira (Vitinha) from Porto on a season-long loan with an option to buy for €20m.