Arsenal will reportedly have to see off competition from AC Milan if they are to make Barcelona flop Malcom their big-money signing this summer.
The Gunners are believed to have eyed up the Brazilian, who has started just six matches in all competitions for Barca since joining from Bordeaux in a £36.5m transfer last year.
Despite his lack of impact in the Spanish top flight, Calciomercato claims that Milan are also now looking to sign the 22-year-old.
Malcom's agent is rumoured to have met with Rossoneri chiefs on Monday to discuss a transfer, leaving Arsenal playing catch-up.
Barca are said to be hopeful of making a profit on the Sao Paulo-born ace, with £45m likely to be enough to secure his signature.