The Gunners are widely reported to have reached a £72m agreement with Ligue 1 side Lille to sign their prized asset Pepe this summer.
Napoli had initially met Lille’s asking price for the Ivory Coast international but Pepe’s agent turned down the Italian club’s offer.
Arsenal appear to be in pole position to make Pepe their fourth signing of the summer as Unai Emery looks to complete a major overhaul at The Emirates.
If the Gunners sign Pepe, it’ll be quite the coup considering that the Lille star has been linked with Liverpool FC and Manchester United this summer.
Speaking at a media conference on Sunday about Arsenal’s reported deal with Lille for Pepe, Ancelotti said:
“I’m not disappointed. I don’t like to talk about players of other teams. The market is so long. We are looking. If there are opportunities, we can do it.”
Arsenal started their summer spending with the addition of Brazilian teenager Gabriel Martinelli to their squad.
The north London side won the race to sign highly-rated Saint-Etienne defender William Saliba last week.
The 18-year-old will spend the 2019-20 season on loan at Saint-Etienne before permanently linking up with the Arsenal squad next summer.
Real Madrid midfielder Dani Ceballos has also secured a loan move to Arsenal for the 2019-20 Premier League season.
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