Arsenal were close to making a double loan swoop from Barcelona on a busy day in north London.
Having already sealed the capture of Denis Suarez on Thursday, it emerged that Unai Emery also tried to bring in Malcom.
But the Spanish giants were not willing to let the Brazilian go on the cheap, so soon after his £45.5million arrival in the summer.
Arsenal were left astonished by the enormous loan fee that Barca demanded for the winger and decided to walk away, according to The Sun.
Malcom has made just one La Liga start and five substitute appearances since moving to the Nou Camp from Bordeaux in the summer.
Suarez proved to be Arsenal’s only addition on deadline day, arriving on loan with the option of a permanent £20m deal in the summer.