The summer transfer window has now begun, with rumours and speculation continuing to swirl as Arsenal eye possible reinforcements.

The Gunners spent more than many expected last summer - most notably their club-record purchase of Nicolas Pepe - but were more reserved in January as they focused on bolstering their defensive options.

Here, Sports Mole rounds up the latest news on possible comings and goings at the Emirates Stadium.

Wednesday morning's Arsenal transfer talk news roundup:

Shkodran Mustafi's Arsenal exit 'gaining momentum'

Arsenal are reportedly prepared to part ways with defender Shkodran Mustafi before the end of the summer transfer window.

Before suffering a season-ending injury during the FA Cup semi-final win over Manchester City, Mustafi had reestablished himself as a first-team player at the Emirates Stadium.

However, William Saliba and Gabriel Magalhaes have since linked up with Mikel Arteta's squad, pushing the Germany international down the pecking order.

According to Laziosiamonoi, Lazio are 'gaining momentum' in their efforts to sign the player for a fee between £10.8m and £13.5m.

Napoli have also been linked with an approach for the 28-year-old, who remains sidelined with a thigh injury.

Mustafi has less than a year remaining on his contract at the North London side.

Atletico Madrid 'do not want Lucas Torreira in Thomas Partey deal'

Atletico Madrid reportedly have no interest in signing Arsenal midfielder Lucas Torreira on a permanent deal this summer.

Having failed to settle to life in North London, Torreira could depart the Emirates Stadium before the end of the current transfer window.

While a return to Serie A remains a possibility, Atletico continue to be linked with the Uruguay international at a time when they are bidding to sign his compatriot Luis Suarez.

However, the Daily Star claims that the La Liga outfit are only prepared to bring in the 24-year-old on a season-long loan deal.

The report says that club officials are not prepared for Torreira to feature in any part-exchange deal for Thomas Partey, who has a £45m release clause.

Arsenal had wanted to explore that avenue in a bid to reduce their financial outlay on the Ghanaian midfielder.

More transfer news from Arsenal:

Report: Arsenal open to Calum Chambers exit amid Newcastle United interest
A report claims that Newcastle United have been offered the chance to sign Arsenal centre-back Calum Chambers for £12m. Read more.

Arsenal midfielder Matteo Guendouzi 'has not handed in transfer request'
Out-of-favour midfielder Matteo Guendouzi is yet to hand in a transfer request at Arsenal, according to a report. Read more.

Arsenal midfielder Lucas Torreira's move to Torino in doubt?
Torino are reportedly no longer a realistic option for Lucas Torreira to join this summer, with Atletico Madrid now the Arsenal midfielder's most likely destination. Read more.

Mikel Arteta: 'No talks with Alexandre Lacazette over new Arsenal contract'
Mikel Arteta admits that holding talks with Alexandre Lacazette over a new deal is not a priority for Arsenal. Read more.