Arsenal have been quoted £45m by Bordeaux for highly-rated attacker Malcom, according to a report.
The 20-year-old, who joined Bordeaux from Corinthians in January 2016, has scored seven goals and registered four assists in 18 Ligue 1 appearances this term.
With the Gunners potentially losing Alexis Sanchez in January, Arsene Wenger is reportedly desperate to recruit a replacement in due course.
According to the Daily Mail, Arsenal are launching a £35m bid but Bordeaux are holding out for £45m and negotiations between the two clubs are likely to continue throughout the month.
Tottenham Hotspur were also believed to be interested in Malcom but have reportedly dropped out of the race for his services.
