Napoli have rejected Arsenal's proposal of €40m for striker Gonzalo Higuain, according to Gazzetta dello Sport.
The Gunners recently put forward an offer of €40m for the former Real Madrid hitman, spying an opportunity to do business after Napoli missed out on qualifying for next season's Champions League.
But Napoli president Aurelio De Laurentiis is taking a tough stance over Higuain and will only start to listen to offers for the striker if the €50m mark is reached.
Napoli beat Arsenal to Higuain's signature in 2013, with Rafael Benitez persuading the Argentine to pick Serie A ahead of the Premier League.
Benitez has just left Napoli to take over at Real Madrid which, combined with a lack of Champions League football, has made Higuain consider his options.
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Publicly the Argentine has not pushed for a move and continues to declare his happiness at the Azzurri.
However, Arsenal boss Arsene Wenger is set on taking Higuain to the Emirates Stadium as he looks to add the finishing touches to his squad to fight for the Premier League title next term.
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