The Citizens came close to signing the 23-year-old on transfer deadline day last month, but were put off by the Portuguese giants’ valuation of their man.
Mangala has become one of Europe’s most sought-after defenders in recent times, after impressing at the heart of Porto’s backline.
As well as City, a number of other clubs are known to be tracking the Frenchman.
PSG are among those interested, and are believed to have contacted his employers to line up a deal.
The Parisians are one of only a few teams on the planet that can compete wit the Etihad Stadium side on a financial level, thanks to the Qatari backing.
The Ligue 1 champions have already snapped up some of the world’s best talent, and are now keen to tempt Mangala as they set about luring the nation’s top talent back home.
Porto value their man at around £35m, which is considered to be small change by PSG, who last summer splashed in excess of £50m to land Edinson Cavani.