Premier League club Arsenal have launched a new offer for Fiorentina striker Dusan Vlahovic.
The Gunners are among a pack of clubs chasing the signature of the Serbia international.
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Arsenal failed with a cash offer for Vlahovic before Christmas, but have now returned with a new proposal.
La Gazzetta dello Sport says Arsenal have offered €55m cash plus the permanent signing of Lucas Torreira in exchange for the centre-forward.
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Torreira is currently on-loan with Fiorentina, which are eager to keep hold of the Uruguay midfielder long-term.