There was also interest from West Ham United and Crystal Palace in a player who, with Cazorla formed Arsenal's best central midfield partnership of recent years, but his preference was a move to Spain.
"It is a possibility, but nothing is decided."
The 26-year-old is a target for West Ham too but David Moyes fears the former U21 worldwide prefers a move to over staying in. "It would not be for West Ham", he told reporters. "It's very hard to talk about those who aren't". However, a move to Valencia seems imminent with reports claiming a four and a half year deal for Coquelin valued close to £10.5 million.
"But my information on the club signing him is that I do not have information!"
However Wenger did admit that the player could well leave the Emirates during the January transfer window.
Elneny has participated in only five Premier League games this season, including only two starts.