According to Sky Sports, Liverpool are just one of a number of clubs chasing the 18-year-old Rennes defender, who has represented France at Under-16 and Under-18 level.
Newcastle United are also said to be interested, along with Sevilla and Fiorentina, though Rennes are reportedly determined to keep the centre-back, who is expected to break into the first team ahead of the coming campaign.
Should the Reds make a move for Coulibaly, though, it would raise interesting questions about their pursuit of Southampton defender Lovren, who has been constantly linked with a move away from St Mary's this summer.
Liverpool have already signed Southampton duo Rickie Lambert and Adam Lallana this transfer window and are said to be in the market for a central defender, too.
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As Opta stats show, Croatia defender Lovren compared favourably with Liverpool's centre-backs in many areas, especially where tackles and interceptions were concerned.
However, the 24-year-old would face heavy competition for places, with Daniel Agger, Martin Skrtel and Mamadou Sakho already vying for a first-team place, while Kolo Toure, Sebastian Coates and Tiago Ilori are also still on the books on Merseyside.
As such, Brendan Rodgers may decide to pursue Coulibaly with a view to the future, as the Frenchman is six years Lovren's junior. Considering the numbers, a move for both would be unlikely, with Liverpool also still needing a left-back.
Like Sakho, meanwhile, Coulibaly is known for his strength and could be mentored by his fellow countryman, who will know what it is like to settle in at Anfield.