Internazionale want Andreas Christensen as part of the deal that would see Antonio Candreva move to Stamford Bridge.
Director of Football Walter Sabatini is an admirer of the Denmark international.
But the 21-year-old has just been added to Antonio Conte's squad ahead of next season.
The Italian manager believes the youngster has improved during his loan spell with Borussia Monchengladbach.
With Chelsea preparing for a long campaign in the English Premier League and the Champions League, Christensen could enjoy some regular first-team football in Conte's squad.
Speaking ahead of next season, the player said: "I have come back to Chelsea a better player than the one that left two years ago.
"I played about 80 games in two seasons and I have a lot more experience. I have a bit more toughness, more mental than physical.
"The physical side of things is something I still have to build on, but mentally it has given me a lot. I'm more confident, I feel ready for bigger things."
