Arsenal are reportedly keen on signing up Nicolas Otamendi, according to the Superdeportes website.
The Argentine international joined Valencia last February in a £9.5m deal before being loaned out to Brazilian side Atletico Mineiro.
Otamendi has returned to Los Che this season though and is considered an important part of their project by president Amadeo Salvo.
But with the Gunners in desperate need of defensive reinforcements, Otamendi has emerged as a target for Arsene Wenger in the winter transfer window.
Reports in Spain, however, insist that Valencia have no intention of letting the 26-year-old leave without a fight.