According to Sportitalia, Inter are not set to sign the winger on a permanent deal, which leaves the door open for West Ham to make a summer move.
Ljajic has been a regular part of Roberto Mancini's team this term, having made 24 appearances in Serie A.
The forward's scored three goals and has three assists, but he has been Inter's most creative player in the league this season.
The fee is affordable for the Hammers, and the attraction of European football too if sixth-placed West Ham qualify could help lure Ljajic to the club.
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