Arsenal have however agreed a deal with Bordeaux to sell Koscielny to the Ligue 1 club, for a fee that could reach a maximum of 5 million euros.
Arsenal defender, Carl Jenkinson is set to follow captain Laurent Koscielny out of the club, BBC Sport reports.
The Gunners are in advanced talks with Nottingham Forest to sell the right-back.
Jenkinson is also attracting interests from Crystal Palace and West Brom.
The asking price for the 27-year-old is set at £5million.
Arsenal have however agreed a deal with Bordeaux to sell Koscielny to the Ligue 1 club, for a fee that could reach a maximum of €5m.
The 33-year-old centre-back is undergoing a medical on Tuesday, ahead of completing a return to France after nine years in London.
Manager Unai Emery hopes to sign a new centre-back before the English deadline of 5pm on Thursday, while they retain an interest in Celtic left-back Kieran Tierney despite the Scotland international being injured.