It was confirmed that the Gunners bid for the England international and the fee involved was reported to be £6 million, an offer that Bolton boss Owen Coyle described being so low that "derisory doesn't even cover it."
However, Wenger reacted bluntly to these reports, stating that the rumoured fee was wrong, before confirming the two sides were in negotiations.
Speaking to reporters, Wenger said: “That number is wrong, it is completely wrong. I believe every negotiation is between two parties and you only have to sell the player if you are all right with the price.
"In this case the information is below what has been spoken about."
Gartside reacted angrily to this supposed £6m bid by re-tweeting a fan’s anger on twitter, whilst Coyle, as mentioned, understood the bid to be far below what they were looking for.
However, Wenger could not understand the anger shown by Bolton, pointing out that if they don’t wish to sell their player then they don’t have to and it is as simple as that, but doesn’t know why the bid – regardless of how small – is “insulting.”
He continued: "You only have to sell the player if you are all right with the price. It is not true. You can believe Gartside or you can believe me. It's not right. It's not the truth.
"If Gartside can say I am lying I am ready to confront him. The truth is that we never speak about our negotiations.
"If a club doesn't want to sell a player it can keep him. When we sign a player we come out here and tell you and keep the price a secret.
"They do not need to sell the player, they can keep him. If you ask do I want to buy your house and you are not happy with the price you say no, that's it.
"Why should you feel insulted? I don't understand. If the player is not for sale they can keep him. I don't understand the problem.
"If we want to buy the player we buy the player. I do not have to explain for how much."