AS Monaco have reportedly opened talks with Braga about the possibility of signing Wallace on a permanent basis when the transfer window reopens in the summer.
Braga put a £29m release clause in the Brazilian's contract when he joined the club from Cruzeiro last summer, but he was sent out on loan before making an appearance for the Portuguese side.
According to Get French Football News, Monaco are preparing a formal offer in the region of £11m after making contact with Braga about a deal.
Wallace has made 16 appearances for Monaco in all competitions this season.
