It is claimed that Monaco instead rate the 18-year-old closer to the £86m mark, with Real Madrid the only side likely to pay up in full.
A thrilling young team coached by Leonardo Jardim clinched the French Ligue 1 title with a 2-0 win over St Etienne yesterday morning (Singapore time), ending Paris St Germain's four-year stint as champions.
"What Mbappe is doing in Ligue 1 and even more so in the Champions League in Monaco's great run is exceptional", Benzema is quoted as saying by L'Equipe.
However, having bagged a phenomenal 26 goals and 14 assists this season at just 18 years of age, it looks as if Kylian Mbappe will nearly certainly be on the move this summer. They beat Monaco 4-1 in the French League Cup final in April and also ousted them from the French Cup semi-finals, their 5-0 victory coming against a much-changed principality side.
Valere Germain put the seal on the win with the last kick of the game to really get the party started.
After finishing a whopping 31 points behind PSG in third place last season, Monaco completely turned things around to seal an eighth title overall.More news: Pemberton Music Festival cancelled, no automatic refunds
The report claims Real will offer Karim Benzema in order to bring down the asking price of Mbappe.
With one match left, Monaco has scored 104 league goals - almost as many as the past two seasons combined.
Kylian Mbappe has been warned against joining Manchester United this summer by former France striker David Trezeguet.
According to reports in Spanish newspaper, Marca, Liverpool have made an audacious €75million bid for Monaco wonderkid Kylian Mbappe, which has been rejected. He knows if he stays with Monaco, he will play all the time.
Hampered by the absence of many injured players including captain Loic Perrin, Saint-Etienne opted for caution but was caught on the break after 20 minutes.
But he made amends deep into stoppage time as Thomas Lemar sprang a counter-attack that left Germain with the simplest of tap-ins to complete a memorable evening.