French media are reporting Arsenal are closing in on Atletico Mineiro's highly rated attacking midfielder Bernard, although manager Arsene Wenger has played down the speculation.
Citing Brazilian sources, lequipe.fr claims the 20-year-old Brazilian is set to sign a five-year contract worth an annual €3 million after tax with the Gunners.
He is expected to jet in to England on Thursday to complete the move following the return leg of the Copa Libertadores final against Paraguayan side Olimpia Asuncion in Belo Horizonte on Wednesday evening.
However, speaking after Arsenal's 3-1 win over Nagoya Grampus on Monday, Wenger told Mirror Football: "That report is not true".
Earlier this month, the player himself confirmed his club had received five offers for him while Tottenham Hotspur, Porto, Shakhtar Donetsk and Borussia Dortmund have all been linked to him.