The Uruguay international only arrived at San Siro from Atletico Madrid last summer but he has struggled for both form and fitness this season, managing just two goals in 18 Serie A appearances for the Nerazzurri.
Mineiro have made no secret of their desire to sign the striker and Branca has now revealed that Inter are currently evaluating the Brazilian outfit's offer for the 32-year-old.
“It’s true: we received a proposal from Atletico for Forlan," the former Nerazzurri forward told Uol Esporte. "We are in talks, but I cannot give any other information at this time.
“Forlan is considering this possibility, but nothing has been decided yet. We are talking about it, but this is a complicated negotiation process.”
Forlan, who won the Golden Ball award at the 2010 World Cup in South Africa, has spent just over a decade plying his trade in Europe, after leaving Independiente for Manchester United in 2001.