The Mail on Sunday says Wenger wants to keep his transfer funds for the summer, when he is expected to bid for Atletico Madrid's Diego Costa, Bayern Munich's Mario Mandzukic and Schalke's Julian Draxler.
Wenger last night admitted he was still on the hunt for a striker.
"We are looking at potential possibilities to get someone in but we are not especially interested in Vucinic," he said.
"I would love to announce to you something that would excite you but I don't have the opportunity to do so."
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