Dinamo Zagreb claim they have rejected a bid from Arsenal to land the Croatian club's star duo Sime Vrsalijko and Mateo Kovacic.
Full-back Vrsaljko, 18, is regarded as one of the hottest prospects in European football while midfielder Kovacic is a highly-rated youngster.
Both players are believed to be in strong demand, but Croatian club vice-president Zdvravko Mamic says he has shunned a €20million (£16.9million) offer from Arsenal to sign both players.