According to Sky in Italy reports, Arsenal have scheduled a meeting with Bordeaux to discuss a potential deal for Malcom.
The 20-year-old, who is also wanted by Tottenham, has emerged as an option to potentially replace Alexis Sanchez should he leave the Emirates.
Bordeaux are believed to value Malcom at over £40m, and he is also reportedly of interest to Bayern Munich and Manchester United.
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Malcom, who joined Bordeaux from Corinthians in January 2016, has scored seven times and provided four assists in 18 Ligue 1 appearances during the 2017-18 campaign.
The youngster posted a picture of himself learning English on Instagram saying: “Allez, come on.”
Malcom moved to France from Corinthians in 2016 for ?4m and the club are fighting to keep him at the club this month to help with their battle for top flight survival.
Despite Malcom’s stand out performances this term, Bordeaux are just two points above the drop zone in Ligue 1.