OM sporting director Jose Anigo says the club, managed by former Chelsea man Didier Deschamps, is ready to listen to offers as they are more prepared to part with Valbuena rather than fellow midfielder Andre Ayew.
"Mathieu has been with this club for six years and we're willing to open talks if Arsenal want to buy him," he told RMC.
"We are very pleased with his performances, but we're ready to listen to offers out of respect for the player.
“However, we have not had contact with Arsenal. Not about Mathieu and not about Andre [Ayew] either."