Arsenal are targeting the Brazil international for the summer market.
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However, talkSPORT says United are prepared to challenge the Gunners for Cunha at the end of the season.
Cunha penned a new deal with Wolves in February, but is prepared to consider offers this summer.
Indeed, Cunha's agent is due in London for talks with interested clubs, with a meeting with United scheduled.
The striker has scored 15 goals so far for Wolves this season.