The Gunners had been heavily linked with a £16m swoop for the Colombia international, who impressed during the World Cup thanks to his winner against Ivory Coast.
I don’t want to give you any names but at the moment we are not after anybody in particular
Wenger has stated that he is open to doing more business in the summer transfer window despite signing four new players over the past month, including £35m big-name arrival Alexis Sanchez.
However, the Frenchman laughed off reports linking the north London side with Quintero and AC Milan striker Mario Balotelli ahead of The Emirates Cup this weekend.
“That’s wrong [on Quintero],” Wenger said. “For weeks we were buying [Mario] Balotelli from one minute to the other and it was all wrong. We do not master all the noises that come out.
“I don’t want to give you any names but at the moment we are not after anybody in particular. Are we close? It depends what you call close. What I call close is imminent. On that front, we are not close.”
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