The 24-year-old was the fourth top-scorer in Serie A last season with 18 goals and has been courted by several clubs across Europe but City appear to be in pole position after Reggina admitted a deal was close.
Reggina president Pasquale Foti said: "We have reached a preliminary agreement with Manchester City for the permanent transfer of Rolando Bianchi to the English club in a 13million euros (£8.8million) transfer deal. The deal will be completed on Wednesday."
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