The Premier League giants are in the market for an attacking full-back on the right side of their defence who is strong on the overlap.
Semedo, 29, has been targeted by United in the final days of the summer window and contact has been made with Wolves over a potential deal.
It is believed that Wolves have to sell more stars before the end of August cut-off to meet financial fair play restrictions.
The Molineux club have already sold the likes of Ruben Neves, Nathan Collins and Raul Jimenez this summer.
That exodus prompted the departure of Julen Lopetegui as head coach, with the Spaniard promptly replaced by Gary O’Neil in the hot seat.
Midfield star Matheus Nunes has also been linked with a move to Man City in the final weeks of the window.
Semedo is under contract at Wolves until June 2025.
He has started both Premier League fixtures in the 2023-24 campaign, playing 90 minutes in each game.
The right-back was also a key man for Wolves last term – notching two assists in 41 appearances across all competitions.
Semedo, who is capped 25 times by Portugal, signed for the Midlands club in 2020 for a reported fee of almost £37million.
Man United have started the season with Aaron Wan-Bissaka as the starting right-back – with the Englishman grabbing an assist against Wolves on the opening day of the season.
Diogo Dalot is also waiting in the wings and signed a bumper five-year contract extension earlier this year.
