Tottenham Hotspur have reportedly been knocked back in their attempts to swap Gylfi Sigurdsson for Swansea City pair Ben Davies and Michel Vorm.
Spurs made a move for Wales international left-back Davies last month, and initially had an £8m bid accepted before Swans chairman Huw Jenkins changed his mind.
The Liberty Stadium bosses value the 21-year-old at £10m alone, and so had no interest in parting with both him and Vorm in exchange for goalscoring midfielder Sigurdsson, according to The Telegraph.
Swansea want to bring former loanee Sigurdsson, who spent half a season with the club in 2012 and is believed to be free to leave White Hart Lane this summer, back to Wales on a permanent deal.
However, the Swans feel that Tottenham need to drastically improve their offer if they are to land both Davies and Vorm, whom Spurs want to recruit in case Hugo Lloris leaves for Paris Saint-Germain.