The Brazilian midfielder has been heavily linked with a move to Serie A this summer and the San Siro side are ready to rival the Viola for his signature
Fiorentina were believed to be sitting in pole position to lure the 22-year-old to Serie A, but Lucescu has now made it clear that they face competition from Filippo Inzaghi's side for the holding midfielder's signature and suggests the player himself could prefer to move to San Siro.
Fernando joined Shakhtar from Gremio in the summer of 2013, yet could be on the move again after a difficult first season at the Ukrainian giants.
"Fiorentina are strongly interested in signing Fernando. We are in concrete talks with the Viola," Lucescu told Sky Sport.
"But Milan are also looking to sign him, a club the player really likes."
Fernando, meanwhile, has admitted that he could continue his career at Fiorentina.
"Yes, there is a possibility that I will go to Italy to play with Fiorentina. We'll see what happens."
The midfielder has a contract with Shakhtar until the summer of 2018.