Vasco da Gama have announced that they struck a £3m deal to hand the 16-year-old attacking midfielder to the Nerazzurri.
However, due to the Italian laws on younger players, he will not be able to play in Serie A until he turns 18, so he'll remain in Brazil on loan at his current club until the end of 2009.
It is quite a coup for Inter, as Coutinho had also been courted by the likes of Real Madrid and Barcelona.
In fact, Vasco had reported Real to FIFA for what they claimed were "very tempting but illegal offers" to the player's family in February.
Source: C4 Football Italia
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