The 22-year-old made his Serie A debut 2010 and has been playing consistently for the Blucerchiati attracting great interest.
Sunday’s edition of Il Secolo XIX reported the interest of Milan in the Spaniard who are looking to revitalise their squad.
Milan have already purchased the full rights of Andrea Poli from Sampdoria so further business could be conducted.
Obiang was dropped from the starting line-up by coach Sinisa Mihajlovic missing the last five Serie A fixtures.
Sampdoria are not likely to receive last summer’s €10 million asking price as interest in Obiang has relaxed.
Former Milan director Ariedo Braida could help his former club beat any notable competition for Obiang.
Michael Albertazzi may be included in the transfer having recently returned to the San Siro.
Follow Louis Gibberd-Thomas on Twitter: @mercutio156