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Real Madrid's ambitious attempt to sign Julián Álvarez appears to have stalled, despite growing speculation that the Argentine forward had emerged as a major transfer target for the Spanish giants.

According to transfer expert Fabrizio Romano, communication between Real Madrid and Atlético Madrid regarding Álvarez has come to a halt. Real Madrid has reportedly made no further approach since its initial proposal earlier this week, leaving negotiations at a standstill.

Real are understood to have submitted an official offer worth €150 million for the Argentine international. The response from Atlético Madrid was swift and pointed, with the club taking to social media to publicly mock their city rivals.

For Diego Simeone, Julián Álvarez remains one of the cornerstones of the club's long-term project. Atlético Madrid are fully aware of the striker's market value and understand they hold a strong negotiating position should interest intensify in the coming months.