Milan have declared they are ready to sit down and talk with Real Madrid as they try to thrash out a deal for Ronaldo.
The Rossoneri are keen to sign the former Internazionale ace as he fallen down the pecking order at Real.
Real boss Fabio Capello is willing to let the Brazilian leave as he does not figure in his long-term plans at El Santiago Bernabeu.
Ronaldo has not hidden his desire to return to Italy and Milan have been hoping to land the World Cup's all-time top goalscorer on a free transfer.
Real and Milan have been at loggerheads over Ronaldo in the last few days with the Spanish giants claiming that they have not had any bid from Milan.
Milan are now ready to try and push through a deal to sign Ronaldo before the close of the transfer window.
Rossoneri vice-president Adriano Galliani confirmed Milan's interest in Ronaldo and claims he has spoken to Real's technical advisor about the South American.
"It is true that we are interested in Ronaldo," Galliani told Punto Radio.
"We are prepared to negotiate with Real Madrid.
"On Tuesday I spoke with (Real Madrid technical advisor Franco) Baldini and we could meet again on Wednesday, but I don't want to discuss figures."