Cristian Pavon's agent has denied that Arsenal have made an official approach for the Argentinian winger, insisting that his client wants to remain at Boca Juniors.
Arsenal made enquiries about Pavon back in January during his breakthrough season with Boca, which earned him a place in Argentina's World Cup squad.
But Pavon's agent Fernando Hidalgo has denied that there is any fresh interest from Arsenal following Argentina's elimination from the tournament.
"There is still nothing official from Arsenal," Hidalgo told Radio La Red, quoted by the Daily Mail. "Pavon informed Boca's hierarchy about his desire to stay and play in the Copa Libertadores."
The Argentine Primera Division champions are in the last 16 of the 2018 Copa Libertadores, with Pavon appearing in all six of their group stage matches.
With 6 goals and 13 assists in last season's league campaign, Pavon is one of the highest-rated young talents in South America and there have also been rumours linking him with a move to West Ham.
The 22-year-old featured in all four of Argentina's matches at the World Cup, including from the start in their last 16 defeat to France.
Boca president Daniel Angelici previously revealed that Pavon has a release clause in his contract which could force the club to sell one of their prized assets if a high enough bid is received.