The Brazilian caught the eye of Europe's major clubs with a number of eye-catching displays as Timao won the Copa Libertadores last July and then the FIFA Club World Cup in December.
"Branca is in Brazil now. We are trying to understand if the conditions are right to sign the player," Moratti told reporters. "I'm waiting for news, it is still morning there, so we will see."
It is thought that the South American champions are holding out for 15 million euros, a fee that the Nerazzurri are unwilling to pay. That is despite having freed up transfer funds by selling Wesley Sneijder to Galatasaray, while Philippe Coutinho is on the verge of a move to Liverpool.
Moratti hinted that Coutinho's move to Anfield will be completed imminently, as long as the Merseysiders do not pull any late changes during negotiations.
"Now we have to figure out if Liverpool's position has changed," Moratti said. "If the conditions are the same as they were [Sunday], then the deal will go through, otherwise it won't. In any case, we are selling Coutinho so we can strengthen other areas, not because we need the money."
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