Arsenal was tracking Bordeaux youngster Malcom in January in the hope of strengthening their attacking positions.
The 21-year-old even revealed that his desire is to leave the Ligue 1 club among all the transfer speculation.
After all, Die Roten have now entered the race for the forward’s signature.
Manager Jupp Heynckes has revealed that the club is keeping a close eye on the highly rated youngster ahead of a potential summer move.
That obviously will come as a blow to both of the Premier League giants, who were expected to re-ignite their interest in Malcom at the end of the season.
“He’s certainly in the focus of our scouting department, like many other players as well,” Heynckes told Sport Bild.
“[Sporting director] Hasan Salihamidzic has very clear ideas and is driving forward the plans for next season.
“He knows exactly who is in our sights and which players he would like to have. He has high-quality players in mind.”
In the winter window, Malcom sent a come-and-get-me plea to potential suitors.
“Yes, there was a promise that I will be negotiating in June,” he said.