Up for auction: Rennes hope to spark bidding war for M'Vila

M'Vila has already told Rennes he wants to leave this summer, having turned out over 100 times and earned a reputation as one of the best defensive midfielders in Europe, following his graduation from the club's academy in 2009.

Arsenal hold the most significant interest in the player, and even tried to buy him in the closing stages of last summer's transfer window, only for Rennes to price them out of a deal with their £25 million valuation.

Yet the Gunners have been tracking M'Vila for 18 months, and believe now is the right time to bring the tough tackling Frenchman to the Emirates, with Rennes likely to accept offers in the region of £15 million.

However, M'Vila, who is also on Inter Milan's shopping list, had hoped a move would be secured by now, but after Arsenal failed to follow up on their initial contact at the end of the season, Rennes have now told interested parties they will not consider doing business until after Euro 2012.

M'Vila is all but certain to play a key role in the France side at the tournament, and Rennes are aware that a strong showing may well prompt other clubs to show an interest and spark a bidding war.

It's the news that both Arsenal and Inter did not want, but having been busy pursuing other deals and trying to offload players, they appear to have potentially missed the boat.

M'Vila has admitted to friends privately that he favours a switch to north London and the Premier League, but if interest from AC Milan or Real Madrid were to arise, he would change his mind.

Meanwhile, Arsenal are continuing in their efforts to overhaul their squad for the new season, after giving a host of clubs permission to speak to Danish striker Nicklas Bendtner.

They have also told Championship side Hull they are ready to talk over the £1 million sale of fringe goalkeeper Vito Mannone.

Mannone has impressed during a number of loan spells at Hull in the last two seasons, and
Gunners manager Arsene Wenger is happy to do business, but is likely to seek another goalkeeper signing, especially with veteran stopper Manuel Almunia joining a list of 7 players to be released when their contract expires on July 31st.