Bernard (L) is not set for a move to Arsenal, Arsene Wenger claims.

Arsenal manager Arsene Wenger insists the club are not pursuing Tottenham Hotspur target Bernard despite reports claiming the Gunners are on the brink of signing the Atletico Mineiro star.

Several sublications are claiming that Bernard will have a medical in north London this Friday, despite Spurs being a much-publicised admirer of the Brazil international.

The move would certainly be a big coup for Arsenal, who have made only one signing in the form of Yaya Sanogo this summer, and at 20 years of age Bernard fits Wenger's policy of signing young players over established internationals.

But Wenger insists there is no truth to the rumours, telling reporters on Arsenal's pre season tour: "That report is not true".

While dismissing claims the club are on the verge of completeing their second summer signing, Wenger is known for being publically coy over transfer dealings. Last summer, he claimed he hadn't heard of Santi Cazorla a week before the Spaniard signed while the year before he remained stubborn regarding the future of Cesc Fabregas prior to his move to Barcelona.

Bernard would bolster Arsenal's attacking line-up but at 20 years of age would represent a long-term investment and would likely be employed in domestic cup competitions rather than be exposed to the rigours of the Premier League or the Champions League.

And though the coup will frustrate Tottenham, who had reportedly placed an offer for Bernard two weeks ago, Arsenal fans will reflect on another signing this summer who is unlikely to have an impact next season.

The club are believed to be pursuing Liverpool striker Luis Saurez while reports continue to persist over a renewed bid for Real Madrid's Gonzalo Higuain.

Prior to the first leg of the Copa Libertadores final against Olimpia last week, Bernard claimed they matches could represent his final involvement for Mineiro.