Ion Tomofte, the Romanian's agent, said that his future with the Citizens will be decided at the end of the season, but welcomed links with the Viola.
"We haven't talked to Manchester City about his future yet," Timofte told TMW. "There are six weeks to go until the end of the season and we'll discuss it after that.
"One thing is for sure - Costel would love to play in Italy with a club like Fiorentina.
"At the moment we have not had direct contact with Fiorentina, but the Viola represent a wonderful side."
Pantilimon has been City's first-choice in their run to the FA Cup final and is likely to start against Wigan Athletic at Wembley on May 11.