Tottenham have cooled their interest in Juan Foyth because manager Mauricio Pochettino believes Estudiantes are asking for too much for the Argentina U20 defender.
Sky sources reported last week that Spurs had held talks with the Argentinian club's president - the former Argentina, Manchester United and Chelsea star Juan Sebastian Veron - over a deal for the 19-year-old.
But nothing was agreed and it is understood Spurs have moved on to assess other targets, with another source also telling Sky Sports News that other clubs have joined the race for the player.
Estudiantes' local newspaper - the city of La Plata's El Dia - has reported that Paris Saint Germain and Real Madrid have also held talks about a possible deal.
Spurs have been after a new centre-back this summer with the future of the unsettled Kevin Wimmer uncertain. Pochettino is yet to sign a player in the current window but has said he is calm about adding to his squad.
They are interested in a new number 10, with Ross Barkley their top target, and replacement right-back for Kyle Walker, with Ricardo Pereira among the options they are assessing.