Both the Gunners and the Lilywhites were credited with an interest in signing the Brazilian from the Ligue 1 club in the January transfer window but a move failed to materialise.
Bayern Munich were also credited with an interest in signing the 21-year-old, who has scored eight goals and made six assists in Ligue 1 so far this season.
However, it seems that Arsenal and Spurs will not be facing any competition from Bayern should the north London sides look to try and sign Malcom this summer, after the German side’s head coach Jupp Heynckes ruled out a move for the attacker.
Heynckes is quoted as saying by the Evening Standard: “I have never seen him play. Therefore, I am not able give an opinion on him.
“But I don’t think there is interest here. He always gets put into the shopping window but nobody really goes after him.”
Arsenal ended up bolstering their attacking options in January by bringing in Pierre-Emerick Aubameyang and Henrikh Mkhitaryan following the sales of Alexis Sanchez and Theo Walcott.
Tottenham also added to their squad by signing Lucas Moura in the January window.
Both of the north London sides are bound to be linked with a host of players in the coming weeks and months as the summer transfer window draws nearer.
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