Bordeaux winger Malcom has been a regular feature in the transfer gossip columns.
The Brazilian has been linked to Tottenham Hotspur, Liverpool and Arsenal.
Although, it seems that the race for his signature has got slimmer, with L’Equipe reporting that the Gunners have cooled their interest.
It is believed that after learning more about the 21-year-old’s character, the North London outfit are reassessing their options.
There is pressure on new manager Unai Emery to make the right signings as it is his first transfer window since being appointed as Arsene Wenger’s successor.
So far, the Spaniard, who was sacked by Paris Saint-Germain last month, has recruited one new face in the form of right-sided defender Stephan Lichtsteiner, who joined on a free transfer from Juventus.
Malcom is certainly an impressive player having scored 12 goals and created eight assists in 38 appearances in all competitions, but it seems that plenty of Arsenal fans are satisfied with the club taking a step back.