According to the same source, the Nerazzurri have offered €8 million for the Portuguese defender, but have been informed that he is valued at €12 million.
Luis Neto only joined Zenit in the winter transfer window from Siena, but it is believed he is looking to return to Italian Serie A.
The 25-year-old has changed no less than four clubs in last three years and it looks as though he might be packing his bags once again.
Inter are hoping to cash in on Andrea Ranocchia in the summer transfer window in order to improve their financial situation, and if the Italy international leaves, they will probably step up their interest in Neto.
Since joining the club from Siena, Neto has made 9 Russian Premier League appearances and scored one goal in the process.