Leicester confirmed Ranieri as Nigel Pearson’s replacement on a three-year contract on Monday, and the Italian is seemingly wasting little time in attempting to bolster his squad at the King Power Stadium.
His first action could be to sign Tisserand, whose agent has confirmed the Monaco defender is keen to join his former boss in the East Midlands.
“We are in advanced discussions with Leicester but we are not on the verge of signing anything,” he told Get French Football News.
“We are missing discussions with Monaco who do not want to let Marcel go at the moment, despite the fact that Fabinho will finally not be leaving the club, something that had previously been expected.
“The plan was Fabinho was going to leave and Tisserand was going to naturally replace him. Monaco want to keep Tisserand as a backup option but we don’t want that.
“We are in discussions with Leicester to find out if Monaco are ready to let him go, and what they will offer us, in terms of salary. I was on the phone with them ten minutes ago.
“I hope that Marcel goes to Leicester. Today, that is his number one wish.
“Claudio Ranieri knows him very well, it is he who gave Marcel his first chance in Ligue 1, he acted like Marcel’s father when he was just starting out.
“Marcel has kept very good memories from his time with Ranieri and it would be a pleasure to work with him again.
“If Leicester make an offer that Monaco are happy with, I think that Monaco will not oppose the idea of Marcel leaving.
“I don’t know how much Monaco are going to ask for, but if a solid offer is made, they will surely accept.”
Another of Leicester’s targets, Caen midfielder N’Golo Kante, has hinted the appointment of Ranieri could convince him to join the Foxes.
He told French radio station Tendance Ouest: “It’s already something important that they have a coach now, and a few days ago I didn’t know what Leicester was like, as there was no coach.
“Today, for sure, it’s an important factor.”
It has been reported by the Daily Mirror, meanwhile, that Ranieri is considering a move for Cole, who he gave his debut as a teenager while at Chelsea in 2002.
The 31-year-old is now without a club after leaving West Ham, and has also been linked with West Brom, Aston Villa and Norwich.
Further speculation from Italy suggests Leicester could offer a trial to former Inter Milan and Lazio midfielder Gaby Mudingay after he was released by Serie A side Cesena.