Liverpool's Aquilani was Arsenal target
The French tactician maintained that the injury-prone nature of the player was the eventual deal breaker.
"Yes I know him [Aquilani] well," Wenger told the club's official website.
"He played against us in the Champions League last year and came off the bench in Rome. He is a talented player but has been troubled a lot by injuries.
"We followed him for one or two years but he did not play a lot last year so he got a little bit out of sight for us and we lost our interest in him."