Arsenal have rejected a £7 million bid from Monaco for midfielder Albert Sambi Lokonga.
Monaco are looking for reinforcements after selling key players this month but it is unclear whether they will return with an improved offer, according to Foot Mercato.
The Gunners midfielder has only made six Premier League appearances this season and has not played a game in the league since October.
Meanwhile, Brighton boss Roberto De Zerbi has commented on the possibility of midfielder Moises Caicedo joining Arsenal or Chelsea this January.
The Gunners want the midfielder and have launched a £60 million bid for him but Brighton do not want to sell.
Manager De Zerbi is also hopeful that he will remain at the club.
“He [Caicedo] is a good guy. He is focused only on Brighton,” De Zerbi said.
“I hope he can stay with us until the end of the season because, in my opinion, it is the best solution for him and for us. I spoke with him on Wednesday and I told him my opinion.”