Villarreal are keen to sign two Wolves players this month.
The Yellow Submarine are targeting Goncalo Guedes and Yerson Mosquera.
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Defender Mosquera spent the second-half of last season on-loan with Villarreal.
Striker Guedes has also been away on-loan, but has been brought back by manager Gary O'Neil for preseason.
Villarreal aim to do business for around €30m for the pair.