Arsenal quoted asking price for Malcom
French side Bordeaux are reportedly demanding a sum of around £45m in order to part ways with Malcom during the current transfer window.
The 20-year-old has been in good form for the Ligue 1 outfit this term, contributing seven goals and four assists in 18 league appearances.
According to The Mail, the Gunners are prepared to offer £35m for Malcom, but this remains below Bordeaux's current valuation of £45m.
As a result, both sides are likely to continue negotiations in the coming days with the north London club looking for a replacement for Alexis Sanchez.
Sanchez, who has entered the final six months of his Arsenal deal, is deemed close to joining Manchester United, though the transfer fee has yet to be sorted.
Malcom has also been Tottenham Hotspur's radar, but they appear to have ended their interest amid Bordeaux's hefty asking price for the Brazilian.