Nantes admit Arsenal are pricing David Ospina out of a move to the French club.
New Nantes coach Claudio Ranieri is chasing the Colombia goalkeeper.
But according to L'Equipe, Arsenal's asking price is too high.
“We asked for information, but it's unfeasible for us," said their deputy general manager Franck Kita.
Arsene Wenger signed the Colombian from Nice six years ago and has also been linked with a number of Turkish clubs.