Search for additions to Arsene Wenger's squad still proves illusive as France international is latest name to be ticked off the coach's list following top offer knock back
Canal + reports the French club said they had rebuffed a substantial bid from the north Londoners for the 21-year-old France international.
Arsene Wenger is trying to bolster his midfield after losing Cesc Fabregas to Barcelona last week and the coach is eager to fill in the gaps before the transfer window slams shut in less than a fortnight's time.
However, after also seeing Marseille's Didier Deschamps turn down a Gunners move for Mathieu Valbuena, Wenger's plans for improvement to his squad have been dealt a blow.
Around €20m of the income received for Fabregas was aimed at reinvesting in the squad, but Rennes instantly rejected the offer for M'Vila.
The youngster recently signed a contract extension with his club until the summer of 2015, and has also been linked with Inter, Real Madrid and AC Milan.