Lyon director Juninho has confirmed the club rejected an offer from Arsenal for Houssem Aouar which included Matteo Guendouzi.
The Gunners are looking for alternative ways to acquire players this summer as transfer funds have run low.
But shipping Guendouzi in exchange for Aouar was not received well by the Ligue 1 club.
"I get along very well with the sports director [Edu]," Juninho told RMC (via Arseblog). "We spoke on the phone. Houssem Aouar is really appreciated by Arteta. There have been some discussions for Matteo Guendouzi who is also a good player.
"He was mentioned during the discussion, but this is not the profile we need, we were very clear. If it is like that, it does not interest us at all – it is, and we stopped."
