The Belgian midfielder is in the final year of his contract at the King Power Stadium and has been linked with an exit throughout the summer transfer window.
Arsenal are keen on Tielemans and it was suggested earlier in the window they wanted to pay £23m for the midfielder, but a bid was not lodged.
Liverpool have been strongly linked with Tielemans in recent days as they shift position to look to sign a midfielder for Jurgen Klopp.
Clubs though are unlikely to sign Tielemans cheaply, with Leicester looking for £30m.
£30m is lower than Leicester paid for Tielemans and would still represent a less than ideal outcome for the Foxes.
They have had their position strengthened though by selling Wesley Fofana to Chelsea.
The cash flowing in from selling Fofana has put Leicester in a position where they can hold out for the fee they want for Tielemans.
