Arsenal have failed with an attempt to swap Aaron Ramsey for Juventus centre-back Mehdi Benatia.
Juventus are in talks to sign Ramsey on a free transfer in the summer when his contract at the Emirates Stadium expires.
The Bianconeri are confident of beating off several sides to land the Welshman and Arsenal are set to lose the Welsh international.
Arsenal have made a move to make sure they can gain some value from Ramsey and, according to Italian outlet Tutto Mercato, contacted Juventus to propose a swap deal.
The Gunners wanted Morocco centre-back Benatia to head the other way, but Juventus have knocked back their offer.
Juventus are not looking to sign Ramsey this month and are happy to wait until the summer to pick him up on a free transfer.
Arsenal have been linked with wanting to sign defenders this month and it remains to be seen if they get back in touch with Juventus to try to snap up Benatia again.
Benatia has made just five appearances in Serie A for Juventus this season, with the Bianconeri preferring other options.
