Spurs are having to look at their defensive options amid uncertainty over the future of Alderweireld at the club.
The Belgian international is now in the final year of his existing deal in North London and there has been little development over his stalled talks about extending his stay.
And the Mirror say that has led to the club showing an interested in Serbian prospect Milenkovic – who has caught the eye with his performances in Italy with Fiorentina.
Manchester United have already been tracking the £25million-rated player, to the extent Jose Mourinho is planning to watch him in action personally over the international break.
But Spurs would provide strong competition for his services, especially if they need to make the move to bolster their defensive options.
Alderweireld's situation is complicated, having shown no desire to take up the new deal offered by the club over the past year.
His current deal runs out next summer, although Mauricio Pochettino has the option to activate an option to extend it by a further 12 months.
But that would still leave Spurs exposed to having a player running down his deal and losing any potential value in the transfer market.
An expected move to United failed to materialise last summer when the Old Trafford board blocked Jose Mourinho's attempts to bring him in, largely because they wanted younger players in the squad.
But there are still plenty of big clubs across Europe who are interested in snapping up the 29-year-old, who is regarded as one of the best defenders in world football at present.
United's failure to land Alderweireld has ironically led them to switch their attentions to other younger targets – with Milenkovic one of those they are watching.
Mourinho has received several good scouting reports on the defender, and the boss hoped to watch him in action over the international break this month.
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