The latest transfer news involves further reports about the Gunner's move for Yann M'Vila, while there is also news about Shinji Kagawa.
Could Yann M'Vila soon be on his way to the Emirates? Reuters

Arsenal has reportedly opened negotiations with Rennes for the singing of midfielder Yann M'Vila, according to France Football, as reported by the Metro.

The France international has been a long-time target of Arsenal manager Arsene Wenger, who tried to sign the player last summer. The high asking price was a problem then and could scupper a move again this off-season, with Wenger reluctant to spend over the odds.

It is thought that the interest of Inter Milan and possibly Bayern Munich has forced Arsenal's hand to go to the negotiating table early. With the disaster that occurred last summer, where Cesc Fabregas and Samir Nasri were sold at the death of the transfer window and replacements were hurried in at the last minute, Wenger will want to do his transfer business early this time around.

It has been widely reported that Arsenal has already secured the signing of German International Lukas Podolski next season.

Another player that could be on the way to the Emirates is Japanese international Shinji Kagawa. The attacking midfielder has reportedly been given to the end of the month by his club Borussia Dortmund to decide on his future, according to TalkSport.

Arsenal are one of a number of clubs to be linked with the man who has scored 13 goals this season to lead Dortmund to a second consecutive Bundesliga crown.

With the 23-year-old's contract in Germany set to expire at the end of next season, Kagawa could be something of a bargain for whichever club secures his signature. With excellent technique and passing skills, Kagawa could certainly fit in well at Arsenal.

There could be plenty of competition for places in the Arsenal midfield next season, with Wenger reportedly wanting Denislon to return this summer, according to the Metro.

The Brazilian has been on loan in his homeland with Sao Paulo and despite his own reluctance has admitted he'll likely be back in North London for next season.

I would stay another six months, but the decision is not mine, said Denilson, according to the Metro.

I have a contract with Arsenal and I have to stick to it.