Roma starlet Cengiz Under has attracted widespread interest after an impressive debut season for the Giallorossi.
Tuttomercato recently reported that the Gunners made a £26 million offer for Under.
Per the source, the Giallorossi rejected the bid and are holding out for £43.8 million.
Additionally, Monaco made an offer for the Turkey international worth £30.7 million.
Turkish-Football understands that the Arsenal and Manchester City are keeping close tabs on Under.
City did come close to signing Under before his Roma move, in fact, the Citizens had a deal on the table that would have seen the winger loaned to Freiburg.
The Giallorossi made a better offer with assurances that he join the team as a first-team player.
Roma are set for talks with Under over a new contract deal.
The 20-year-old does have another four-years on his current deal but wants a pay rise.
The Turkey international is currently on around €1m per-season.
With the likes of Arsenal and City hovering the Giallorossi may consider offering an increase to secure his future at the club.
Despite increasing interest, Under is expected to stay at least another season at the Italian giants.
Roma are keen on resolving the pay issue before it becomes a problem. Should Under continue developing in the same fashion next term the Serie A outfit feel interested clubs could unsettle him.
The youngster wrapped up the 2017-18 campaign scoring eight goals and providing two assists.