Espanyol vice-president Jose Luis Morlanes has revealed that the club have rejected a bid for Ghana international Wakaso Mubarak.
The 22-year-old midfielder cost just £260,000 when he signed from Villarreal last summer, although his value has rocketed following an impressive debut campaign.
Morlanes said: "We have received an offer of £3.9m from a European club, but we will not sell for this amount."
British radio station talkSPORT claims than the unsuccessful bid was lodged by Swansea City.