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Bottas has a contract that runs until the end of the 2017 season but Williams have rejected Mercedes’ initial offer.
The Finn is also managed by Mercedes’ Head of Motorsport, Toto Wolff.
Wolff previously tried to push through a move that would have seen Bottas, 27, join Mercedes in exchange for revised terms with their engine deal.
Bottas could partner Lewis Hamilton if Toto Wolff gets his own wayGetty Images
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Mercedes' initial offer was to cut their engine bill by over half in return for releasing Bottas - but it seems as though he may need to return with a revised offer.
Bottas finished eighth last season in the driver's championship with 32 points more than his team-mate Felipe Massa.
But Wolff eyes Bottas as the ideal replacement with his ability to consistently pick up points despite previously driving a slower car.
It could mean that Williams are left with just rookie Lance Stroll as their hunt for a new experienced driver will continue.
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