The club are hopeful of finalising a deal next week for the 23-year-old, who came close to joining City in January.
Mangala, who was in Manchester on Saturday, was in France's 2014 Fifa World Cup squad but did not play.
If the deal goes through, he would be City's fourth summer signing and second from Porto, after Brazilian midfielder Fernando joined for about £12m.
Goalkeeper Willy Caballero moved from Malaga for £4.4m while former Arsenal right-back Bacary Sagna was signed on a free transfer.
Mangala began his career with Standard Liege in 2008, winning the league in his first season, before joining Porto in 2011.
He won two Portuguese titles before making his France debut in a 1-0 defeat by Uruguay in June 2013.
City allowed centre-back Joleon Lescott to leave earlier this summer when his contract expired.
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