Both Premier League giants have been linked with a move for the 25-year-old centre back as they look to bolster their defences this summer.
Inter Milan boss Antonio Conte dropped Skriniar for the clash against Torino on Monday night - which they won 3-1 - and the Serie A outfit are ready to let him move on, putting City and United on alert, according to Football Italia.
The defender could be sold to either Manchester club for a fee in the region of more than £54million, according to Italian outlet Corriere dello Sport.
Both City and United are looking for defensive reinforcements ahead of next season as they look to close the gap on champions Liverpool.
Ole Gunnar Solskjaer's side's defensive issues were visible in their 2-2 draw with Southampton on Monday evening when they conceded a stoppage-time equaliser at Old Trafford.
While City did not replace their ex-captain and club legend Vincent Kompany when when he departed the club last summer with Fernandinho having to fill in at the back for spells this season.
Skriniar, who played a 14-minute cameo role off the bench against Torino, made the move to San Siro from Sampordia for £30million in July 2017.
While Inter manager Conte has revealed he will quit if club chiefs are unhappy with him after he saw his side move back into second place in Serie A.
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