Arsenal have reportedly been knocked back in their attempt to sign Dejan Kulusevski from Juventus in exchange for Nicolas Pepe.
The Gunners are believed to be big admirers of the Sweden international, who has eight goals and eight assists in 62 appearances for Juve.
Italian outlet Calciomercato suggests that Arsenal ramped up their interest in the 21-year-old by making contact with the Bianconeri.
It is claimed that the North London side wanted to use Pepe in a straight swap, with the winger valued in the region of £30m - the same fee Juve are after for Kulusevski.
However, Juve are said to have declined the offer as they want cash to strengthen in other positions.
Arsenal's fierce rivals Tottenham Hotspur are also thought to be in the running to sign Kulusevski.
