The Gunners still hope to land the Belgium International despite having their initial bid turned down by Anderlecht.
Reports from the Daily Express say the North London outfit are confident they can land the Anderlecht midfielder.
Arsenal are keen on signing the 21-year-old but have hit a stumbling block in negotiations with Anderlecht. The Gunners saw their initial £13.5 million bid thrown out the window by the Belgium outfit.
Though there are suggestions Lokonga is eager to make the switch to join the FA Cup champions and Anderlecht want to have the deal sanctioned immediately, however, they'll only sell at the right price.
It is understood that Arsenal had included bonuses to sweeten their initial bid but Anderlecht want a bid closer to £18 million — a fee they feel is the right price for the 21-year-old.
Moreover, the Belgium outfit are aware of interest in France and Germany for the youngster and will hope news of his move will trigger a bidding war.
Whether Arsenal will up their initial offer for Lokonga—who has also been touted as a replacement for Granit Xhaka—remains unclear. Xhaka is reportedly keen on a move away from Arsenal and they're desperate in their search for his replacement — one who'll partner £45 million new boy Thomas Partey.
Xhaka is wanted by Italian side AS Roma and although talks between both clubs over his move have already begun, haggles over his valuation have freezed things. Arsenal are thought to want around £17 million for the 28-year-old but Roma want him for a cut down fee. Unless the Italian side matches the asking fee, Arsenal will hold on to their man who still has two years left on his contract.
More reports also suggest money from the Basel native sale will be used to fund the purchase of Lokonga— if Roma meets his market fee.
While the bigwigs at Arsenal are confident of landing Lokonga despite losing another midfielder in Norwich City's Emiliano Buendia to Aston Villa, uncertainty still hangs on whether Anderlecht will sell him at a reduced price.