Liverpool have already made contact with Lucas Moura over a £21.5million deal, according to reports.
New Reds manager Jurgen Klopp is expected to make a number of signings during the January transfer window.
And one of the players earmarked is Paris Saint-Germain's Moura, who is thought to be available at the right price.
The winger, 23, has scored four goals in 20 appearances for PSG this season.
Yet he has struggled to earn regular starts in Paris and since August has made manager Laurent Blanc's first XI just eight times.
French outlet Le 10 Sport claim Moura would be open to a move and that Arsenal are preparing a £21.5m rival offer for the midfield ace.
The Gunners failed to capture a single outfield player during the summer and are currently suffering from a major midfield injury crisis.
Yet with Liverpool intent on regaining a place in the Champions League next season Arsenal manager Arsene Wenger faces stiff competition.
There is already a growing Brazilian contingent at Anfield, with Lucas Leiva, Philippe Coutinho and Roberto Firmino possibly acting as an extra incentive for the star to snub Arsenal's advances.
As for PSG, they remain intent on landing Manchester United target Cristiano Ronaldo from Real Madrid in January.
However, it has emerged that Real want to keep their star man until next summer in order to line up a replacement, with Bayern Munich's Robert Lewandowski their top target.
Source: Daily Express
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