The deal for Aquilani grew cold as the Viola could not match the demands of Liverpool, and the move was called off, with Aquilani heading to AC Milan instead.
Now it would appear that Liverpool could be asking Fiorentina to offer better terms this time if it is true the Reds could make the signing of Vargas their last at the death of the transfer window.
A Peruvian international, Vargas has been with the Italian club since 2008, when he joined on a €12 million fee from Catania after failing to make the grade there.
He has made 80 league appearances for the Viola, scoring 12 goals in the Serie A since making the move. His versatility to play up and down the left side from left back to left wing could be one of the main reasons that he is being scouted by the Reds.
You can follow me on Twitter @thedailyatz and Facebook or visit my personal WebSite