The 28-year-old has reportedly been a long-term target for Napoli boss Rafael Benitez.
Following an impressive debut season at the Liberty Stadium, Michu endured a frustrating second campaign with the Swans last term as he struggled with injury.
Napoli are understood to be keen on a year-long loan with the option of a permanent £8million transfer to follow.
Michu's fitness issues last season mean the structuring of that deal could be a sticking point with Swansea, and De Laurentiis admits nothing concrete has been decided.
"Some situations will begin to unlock in the first days of August. We are not only looking for the name, but a profile that is useful to the team and the coach," he told Calcionews24.
"Michu? Negotiations are well under way for months but there is still no agreement reached."
Another member of Swansea's Spanish contingent, Pablo Hernandez, is the subject of interest from Qatari club Al Alarabi.