Matondo spent the previous season on loan with Belgian side Cercle Brugge and impressed with his displays at the Jupiler Pro League club.
The winger played 27 times for the Belgian side last term and scored ten goals, in addition to providing two assists.
His displays caught the attention of Rangers, but they were not alone in the pursuit of the winger this summer.
Now, however it seems Rangers have left the completion biting the dust as they are close to completing a move for him, according to Goal France.
The fee agreed by Rangers is a figure close to €2m, but the winger also had offers from two French clubs this summer.
Ligue 1 sides Troyes and Lorient placed bids for the winger while Leeds United and Rangers’ arch-rivals Celtic were also linked.
Rangers are looking to improve their firepower up front next season and they will be hoping that by signing Matondo they do just that.
