Arsene Wenger has denied reports that Arsenal are set to make a big-money bid for Real Madrid striker Karim Benzema.
The London club were said to be ready to lodge a £40million offer for France striker Benzema as they target a tilt at the Premier League title.
Wenger confirmed he could dip into the transfer market before the window closes on September 1, but would not confirm an interest in countryman Benzema.
He said at a media conference in Singapore: "I don't know where that story comes from, but that is not happening at the moment.
"I am happy with the squad we have. If I find an exceptional player to strengthen, I will do it.
"It depends what's on the market. It is not easy, there are a lot of teams out there in Europe competing for the same player. We don't rule it out and [also] don't guarantee we sign.
“[The Premier League title] is our target and we feel we have a chance in a very competitive league. We are not far away."
