Arsenal have repeatedly been linked with a move for the France international for some time, despite manager Arsene Wenger having previously ruled out signing the 22-year-old.
However, M’Vila has now given his thoughts on the saga, saying he is happy to stay at Rennes but refusing to rule out the possibility of a move.
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“I must play good matches. While I am here, I am [at] the disposal of the coach and I must do the best possible.
“The transfer window ends on September 4, so I will not lose my head.
“If I must stay another year or more, I will stay.
“If I must go, that's life. But if I stay here, I will be 100 per cent concentrated.”
Arsenal have enjoyed a busy summer in the transfer maket already, bringing in Lukas Podolski, Santi Cazorla and Olivier Giroud, although captain Robin van Persie’s future at the club still remains in some doubt.