The defensive midfielder is believed to have impressed Coyle with his form for Valenciennes last season and a move to the Reebok Stadium now looks likely for the 26-year-old.
"There might be some merit in that," Coyle told Bolton News regarding the rumoured interest. "We've always been in the market for that type of player and if the right one becomes available then we will certainly have a look at it.
"Can we get one by the start of the season? Well, we'll certainly be trying to."
The Colombian is currently a free agent after his contract expired at the end of the last campaign.