Per The Independent:

Roma are negotiating the transfer of midfielder David Pizarro to Manchester City, according to club general director Franco Baldini.

The Chile international has been strongly linked with a move to the Etihad Stadium to bolster City's midfield.

Reports in Italy claim Pizarro will join the Blues on loan until the end of the season.

"We are only negotiating with Manchester City for Pizarro," Baldini was reported as saying on www.asromanews.it. "We will try to complete the deal before tonight."

UPDATE: BBC Sport are suggesting that Pizarro is heading for a medical.

UPDATE: The official site now confirms the deal.