Liverpool have completed the £20million transfer for Lazar Markovic, but had an £8million offer for Swansea’s Ben Davies rejected, Telegraph reports.

Lazar Markovic became the club’s fourth major signing this summer after the purchases of Adam Lallana, Rickie Lambert, and Emre Can.

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And Reds manager Brendan Rodgers was looking to bring in Sevilla left-back Alberto Moreno, but talks for the Spaniard broke down.

Rodgers therefore turned his attention to Swansea’s Ben Davies, however an £8million bid has been rejected by the Welsh side.

Liverpool are looking to rebuild their squad after the loss of star striker Luis Suarez to Barcelona, and have also targeted another Swans player in Wilfried Bony to be Suarez’s replacement.

But the signing of Markovic – which takes summer spending spree to £60million – will ease the loss of their Uruguayan talisman.

The Liverpool boss said: “This is an exciting signing for us and one that improves our squad, in terms of attacking options.

“He was hugely impressive for Benfica last season and has proved he has the ability to produce the goods in European competition as well, which will be important for us.

It is expected that the Reds will make an improved offer for Davies, with a left-back a major concern for the Liverpool manager.