The youngster is making waves in the Bundesliga this season.
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In just nine appearances El Mala has registered an impressive four goals and one assist.
Sky Deutschland says such form has attracted City's attention - including manager Pep Guardiola.
Guardiola has made a request for scouting reports on El Mala, with a January move not ruled out.
It's been suggested FC Koln would be willing to sell for €40m.