The information about City's interest in Reis came from UOL. The youngster already has a verbal agreement with the English club, according to the site.
Journalist Fabrizio Romano added that the Citizens are in Brazil to formalise the proposal at a meeting with Palmeiras.
City are in a hurry to strengthen their defence and want Vitor Reis in January. The centre-back has been with Palmeiras since 2016 when he was picked up at the age of 10.
Reis broke into the Verdao first team in mid-2024 and quickly established himself. The youngster made 22 appearances last season, 20 of them as a starter, and scored two goals.
The defender also has a distinguished career with the Brazil U17 national team. Reis captained the team at the last FIFA U17 World Cup in 2023.