Arsenal's bid to sign Valencia defender Shkodran Mustafi was rejected by the Spanish club, transfer market expert Emanuele Giulianelli has revealed on Twitter.
The two clubs are €4million apart although the player has already agreed personal terms with the Gunners and an announcement could be made as early as tomorrow.
On Thursday, agent Ali Bulut confirmed that the Germany international will become an Arsenal player as soon as the two clubs reach an agreement on the transfer fee.
"Shkodran and Arsenal have reached an agreement, the clubs now only have to agree on the fee," he told Spox.
The 24-year-old will add depth to the defensive department which has been decimated by injuries.
Per Mertesacker and Gabriel Paulista will both spend weeks on the sidelines with Laurent Koscielny the only experienced defender healthy in Arsene Wenger's squad.