Arsenal and Liverpool had scouts posted this week to see Olympiakos striker Konstantinos Mitroglou in Champions League action.
Greek media sources say both Gunners boss Arsene Wenger and Liverpool manager Brendan Rodgers are keen to bring the German-raised Mitroglou on board in January but face competition from Borussia Dortmund.
Arsenal and Liverpool were among clubs represented last night at Benfica's draw with Champions League opponents Olympiakos, with Mitroglou again featuring prominently.
The 25 year-old has scored four hat-tricks this season.
