Website Football.London is reporting that the Gunners remain interested in the 18-year-old in the summer transfer window.
The same article states that Saint-Etienne would be willing to sell the promising centre-half but the Ligue 1 side would want Saliba to be loaned back to them for the 2019-20 season.
According to the same story, the north London side would be reluctant to send the France Under-19 international back on loan to Saint-Etienne.
The report goes on to say that other suitors such as Manchester City and Manchester United would be willing to meet Saint-Etienne’s terms unlike Arsenal.
Saliba, who progressed through the ranks at the French side, made 19 appearances in all competitions in the Saint-Etienne first-team last term.
Arsenal are in the market to improve their defence with an injection of youth giving the ageing legs in Unai Emery’s back four.
The Gunners appointed the Spanish head coach as Arsene Wenger’s replacement at The Emirates last summer.
Emery’s side ended their first Premier League season under the Spaniard with a respectable fifth-placed finish.
Arsenal suffered a 4-1 loss to bitter London rivals Chelsea FC in the Europa League final in Baku last month.
MORE: Man United latest news
MORE: Arsenal latest news
MORE: Chelsea latest news
MORE: Liverpool latest news