Saints will agree to let Dani Osvaldo join Inter Milan on loan, while they will receive Algerian midfielder Saphir Taider in return, the Daily Mail report, along with media in Italy.
The club are keen to offload record signing Osvaldo after a disastrous first season and apparently want 22-year-old Taider as part of the deal.
A number of papers, including the Telegraph and Mirror, also report that Aston Villa will hold talks with captain Ron Vlaar this weekend, as they attempt to ward off supposed interest from Saints.
The Mirror also say Saints remain hopeful of securing Celtic keeper Fraser Forster and Sporting Lisbon defender Marcos Rojo this week.
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