The 23-year-old has been the highlight of Gremio’s team since the return of football in Brazil.
And it is reported that both English side Wolves and Italian outfit Atalanta have made proposals for Pepê.
Gremio have set a starting price of €15m for Pepê, who has scored four goals in his last five appearances.
In addition to that, they want to ensure a sell-on clause is included in any deal.
An obstacle to his departure is Gremio’s wish that Pepê stay with them until the the end of the Brasileirão.
Wolves and Atalanta are thinking about signing Pepê and immediately taking him to Europe.
His Italian passport will faciliate a move to Europe and negate the need for a work permit.
At the age of 23, Pepê made his 100th appearance for Gremio on Wednesday and has scored 22 goals.