The Italy international has emerged as a top target for the Liga outfit heading towards the winter transfer window
He has taken in over 100 appearances for the Premier League club and remains tied to a contract through to 2022.
Valencia hope that he can be freed from that agreement and have opened initial talks.
Los Che are eager to reinforce their ranks after enduring a tough 2018-19 campaign to date.
They are currently sat 14th in the Spanish top-flight, with just three wins collected from 14 fixtures.
The left-back has emerged as a target for both clubs as they piece together their respective recruitment plans.
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He boasts considerable experience, both at club level and for his country, despite being just 24 years of age.
His current contract is due to run until 2021, so a fee will need to be negotiated with his current club in order for any deal to be done.
Sevilla and Villarreal are both planning to open such talks, with there a desire on their part to strengthen down the left-hand side of their starting XIs.