The Premier League powerhouses have contacted the Midlands club about perhaps signing Semedo since they are in the market for an attacking full-back for their right side of the defense.
Wolves are out of time to find a replacement for the 29-year-old, thus the Portuguese and Wan-Bissaka have been proposed as a trade.
Erik ten Hag wants to replace the 25-year-old with a right-back who is more useful in the attacking third of the field since the player has fallen down the United pecking order.
According to speculation, Wolves must sell additional stars before the deadline at the end of August in order to comply with financial fair play rules.
This summer, the Molineux club has already lost players like Raul Jimenez, Nathan Collins, and Ruben Neves, while Matheus Nunes is on the verge of joining Man City for more than £50 million.
With only one year left on his Old Trafford deal, Wan-Bissaka has long been linked with a move to Wolves.
Despite playing both of Man United’s first two games of the season, the London-born star could be traded before the deadline on September 1.
Semedo has also started both games this season for Wolves – who have lost on both outings, conceding five goals in the process.
He has a deal with Molineux through June 2025.
In 41 games in all competitions last season, the right-back was a significant player for the Midlands team, helping them avoid an early relegation threat with two assists.