Lyon president Jean-Michel Aulas has confirmed that Arsenal made a "timid" second offer for midfielder Houssem Aouar that was swiftly rejected.
Gunners boss Mikel Arteta hinted on Monday that his side's transfer business for the summer is not yet complete with less than a week of the window to go.
The North London outfit are rumoured to have made a £30m bid for Aouar last week, and Aulas has revealed that a slightly improved amount has since been tabled.
"There was a timid offer [from Arsenal]," he told Telefoot. "We felt like they didn't consider the fact that this is a player in the French national team.
"So, it was an offer that did not even make us consider making a sale."
Asked if Lyon were after between €40m and €50m for the 22-year-old, Aulas replied: "It is certainly more than the first number that you mentioned."