Wenger made an attempt to sign Ba last summer and is now trying again for the Senegalese.
A deal towards the end of the winter window is being considered.
Wenger has hinted the club are currently looking to bring in reinforcements but won't be rushed into a decision.
"Nothing has changed because we are open to a possible solution and if something interesting turns up we will do it," Wenger said.
"It could be a loan as well yes, but we are not in talks with Real about anybody."
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