Cancelo + Laporte is no longer valued at £110m.
Cancelo has gained a worldwide reputation as an arrogant player and for demanding to start every game. If he doesn't get his way, he causes significant internal issues, going as far as attempting to harm his own teammates. £35m is what clubs will accept paying for him despite the fact his talent is worth much more.
Laporte has 2 years remaining on his contract and will soon become City's sixth choice as CB. While he is a good player, he is often unreliable, particularly in important games. City has to get rid of him this window.
Therefore, other clubs will not be willing to pay his true value, but a lower fee, probably around £30m.