Goal's Bruno Andrade (h/t the Mirror's Martin Domin) said Spurs have made a move for the 20-year-old. Domin added £40 million would be the likely fee, while Arsenal have opted to focus on signing Henrikh Mkhitaryan and Pierre-Emerick Aubameyang.
UOL Esporte's Caio Carrieri offered a further update on the Bordeaux star:
Tottenham manager Mauricio Pochettino has played his cards close to his chest in regards to Spurs' activity in the transfer market, per ESPN's Dan Kilpatrick:
However, if the deal will not take place until the summer, the Argentinian's comments may not be indicative of their pursuit of Malcom.
The winger has had a superb season, scoring seven goals and assisting five in Ligue 1.
His form comes despite Bordeaux lingering in 13th place in the French top flight as they battle relegation, and he has contributed to over half of their 23 goals.
The Brazilian specialises in cutting inside and going for goal, but he has an impressive end product when it comes to creating chances for his team-mates too, per WhoScored.com:
He can offer Spurs pace in forward areas, something they have relatively little of aside from Heung-Min Son, and he has the potential to become an excellent player.
The Mirror's John Cross believes Arsenal may come to regret the decision not to pursue him further:
A personnel boost in January is always welcome, but agreeing a deal now ahead of the summer would also be shrewd business from the Lilywhites.
An extra six months of playing regular first-team football at Bordeaux will do his development no harm, and it could make him better equipped to adapt to the north London side ahead of next season.