Newcastle United have been linked with the 22-year-old Angers winger.
The 22-year-old has been linked with moves to Newcastle and Watford, but if that is the French club's selling price then Rafael Benitez should walk away from it.
It is a hell of a lot of money for an attacking player whose individual statistics paint a rather unflattering picture of his talents in the final third.
The Ivorian has netted three goals in 47 appearances for the Ligue 1 outfit, grabbing just two assists, and the Magpies would be mad to pay such a big fee for him.
Benitez could do with another winger, given that it remains to be seen how Christian Atsu will fare in the Premier League, but he should look elsewhere if that is the price for Pepe.
He might be a world beater in the future, but for now he is wholly unproven and Newcastle would be far better off exploring other avenues. It will be their first season back in the Premier League and how successful they are next term will depend on Benitez's recruitment drive over the next two or three months.
United kick off their Premier League season by hosting Tottenham on August 12.