has not given up hope of completing a deal for promising Fulham defender Chris Smalling, despite battling Manchester United in the hunt for the England Under-21 international.
Smalling, 20, has caught the eye of the Premier League leading teams following his solid performances for Fulham, who rate the centre-back at around £7 million having plucked him from Maidstone.
Wenger, though, maintains until the ink is dry, no deal can be considered done.
The Arsenal manager said: "It just looks like Manchester United offered more money than us, but as long as the player has not signed anywhere it is not the end of it.
"Let's see what happens there.
"We will not come out on what we are doing exactly. It has come out [elsewhere], but that does not mean it is true.
"If we have anything more to tell you we will let you know."