On Friday, it was confirmed that Spurs had sold Kyle Walker to Manchester City in a deal said to be worth over £50m, but it has left the North Londoners in need of a replacement for the England international.
It has previously been suggested that head coach Mauricio Pochettino has identified Pereira as the player to compete with Kieran Trippier at right-back, but according to O Jogo, they have seen a bid for his signature rebuffed by the Portuguese giants.
The 23-year-old has spent the last two years on loan at Nice, but he has played a part in helping the French club to earn a place in the qualifying rounds of the Champions League.
The defender has made a total of 56 appearances since August 2015, and Porto feel that any interested club should meet his £22m release clause if they want to sign him this summer.
Pereira has been contracted to Porto since 2013, but he has featured for the club on just 24 occasions.