Arsenal have opened talks with Club Atletico Lanus to sign attacking midfielder Miguel Almiron, Tutto Mercato Web has reported.
According to the Italian website, the Argentine club want €13million for the 22-year-old but the Gunners want to finalise the deal for €11million.
The youngster is also a target for Fiorentina according to reports in Italy.
The Gunners have added Shkodran Mustafi and Lucas Perez to their squad but they also want to secure the services of the Paraguayan in what would be a seventh summer signing for manager Arsene Wenger.
Meanwhile, the Frenchman has confirmed that a number of players who missed pre-season will be ready after the international break.
"The Euros lasted longer than before, it lasts four weeks, so I believe we paid a heavy price in our first game," he explained.
"Mesut [Ozil] is nearly there, not completely but he just goes again so for us the break is not welcome."