French outlet L’Equipe, as quoted by Metro, is reporting that both of the Premier League clubs have made moves to try and sign the 24-year-old this summer as they look to strengthen their squads.
According to the same story, Lille are open to selling Pepe this summer but they are holding out for a transfer fee of €80m (£70.9m).
The same article says that Lille have now received “concrete” offers from Arsenal, Liverpool FC and Inter Milan – and the club are now waiting on the player’s representatives to make a decision.
Pepe is believed to be one of the most in-demand attackers in Europe this summer after his fine form for Lille last season.
The Ivory Coast attacking midfielder scored 22 goals and made 11 assists in 38 Ligue 1 appearances for the French club last season.
Arsenal are believed to be on the lookout for a number of new signings this summer, but they have so far only landed Brazilian teenager Gabriel Martinelli.
The Gunners finished in fifth place in the Premier League table last season and lost the Europa League final, meaning that they don’t have the lure of Champions League football to attract new players.
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