Arsenal have had a bid for M'Baye Niang rejected by Ligue 2 outfit Caen.
Niang spent last week on trial with Arsenal and reports during his evaluation in north London had suggested he could join the Gunners in a £5million deal.
Caen had at the weekend put out a statement insisting they were yet to receive any offers for the 17-year-old, but earlier this week it emerged that Arsenal had made an official bid for the forward, who is also on Manchester City's radar.
Caen are keen to keep hold of the France Under-21 international, and club president Jean-Francois Fortin has confirmed he has turned down Arsenal's opening offer for the teenager, which is believed to be worth up to £6m.
"It [the bid] is not derogatory, but it's not what we want," club Fortin told West France.
Tottenham are also thought to be showing interest in the young Frenchman.