Arsenal have reportedly scheduled a meeting with Bordeaux to discuss a possible deal for Spurs target Malcom.
The 20-year-old has emerged as a possible option to replace Alexis Sanchez who is being strongly linked with a move away from the Gunners this month.
Bordeaux have reportedly valued Malcom at around £40 million and he has also attracted interest from the likes of Bayern Munich and Manchester United.
Malcom revealed on social media last week that he is learning to speak English and this has also increased speculation that he could be set for a move to the Premier League.
Malcom is able to play anywhere behind a centre-forward and this could make him a good replacement for Sanchez whose future with the Gunners remains in doubt.
It was reported recently that Manchester City are preparing to offer Sanchez a deal should he end up leaving Arsenal at the end of the season.