Alex's agent has confirmed Panathinaikos are interested in signing the Chelsea defender.
As revealed by skysports.com earlier this week, Panathinaikos officials have sounded out Alex about a move to Greece when the transfer window reopens.
Alex has struggled to hold down a regular place in the Chelsea side since his arrival from PSV Eindhoven due to the form of Ricardo Carvalho and John Terry.
Panathinaikos are keen to bolster their backline and are hoping to sign Alex initially on loan with a view to a permanent deal.
The Greek giants are managed by former Blues assistant Henk Ten Cate - who knows the Brazilian stopper well from his time at Stamford Bridge and fellow Brazilian Gilberto Silva is believed to be trying to convince Alex to swap England for Greece.
Alex's representative Giuliano Bertolluci has confirmed Panathinaikos have contacted him about the central defender's availability.
"It's true that people of Panathinaikos called me," Bertolluci told Greek newspaper Derby. "We discussed about a possible move of Alex to Panathinaikos.
"I think that it's very difficult to have news on this case because my client doesn't want to leave Chelsea on loan with an option for a permanent deal".