Celtic’s pursuit of Romanian talent Louis Munteanu has reportedly hit a stumbling block after their first proposal for the striker was turned down by his current club’s hierarchy.

Reports emerging from Romania suggest the Hoops made a formal approach valued at around €8 million, equivalent to nearly £7 million.

However, that bid has been dismissed outright, with club president Ioan Varga understood to be holding firm on a considerably steeper price tag.

According to iAMsport.ro, Varga has informed interested parties that any discussions will begin at a figure close to €18 million, or just over £15 million in today’s terms. That stance places Celtic’s opening bid well below expectations, leaving negotiations at an impasse for now.

The forward is on the radar of several outfits across the continent. Ligue 1 trio Rennes, Lille, and Nice are all said to be monitoring developments, which could complicate matters further for Brendan Rodgers and his recruitment team.

Munteanu arrived at his current side from Italian outfit Fiorentina last year and wasted no time making a name for himself. In his first full season back in Romania, he racked up 23 goals, finishing as the top marksman in the domestic top flight.

He’s also been making headlines at international youth level. Featuring for his country’s Under-21s during the European Championship held in Slovakia, he found the net against Spain in a group match, further highlighting his ability on bigger stages.

The Hoops have been active in the market this summer but are yet to land a marquee attacking option. With their sights set on bolstering the forward line ahead of European qualifiers, the Romanian striker had emerged as a key target.

Whether Celtic decide to return with an improved offer remains to be seen, but any fresh attempt will likely need to come much closer to the valuation being touted by those in charge of the Romanian outfit.