The Swedish forward returned to the Etihad at the end of last season after his loan spell at Feyenoord ended, but has since been sidelined with a knee injury.
Guidetti, 20, recently resumed full training and is now widely tipped to leave the club on loan in the January transfer window.
Palermo, Roma, Newcastle and Sunderland have all expressed interest in the highly rated forward, but it is believed he prefers a move to Spanish La Liga.
With Malaga and Sevilla both keen, all that’s left is for the player to decide between the two Spanish clubs.
Guidetti was thoroughly impressive during his loan stint at De Kuyp, scoring 20 goals in 23 Eredivisie matches, but he will need some time to return to his best after spending more than six months on the sidelines.