Arsenal have been told they must bid higher for Sampdoria pair Joachim Andersen and Dennis Praet.
The Gunners can buy the pair for €55m.
Gazzetta dello Sport's Nicolo Schira reports Arsenal's initial proposal has been rejected.
The Gunners are going to have to raise their bid, because Samp consider centre-back Anderson to be worth €30m on his own, with midfielder Praet valued at €25m.
Arsenal already did business with Sampdoria last summer over the signing of Lucas Torreira.