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Are Arsenal in for Colombian midfielder?

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Elsa

According to Colombian journalist Diego Rueda, Arsenal are showing interest in FC Porto attacking midfielder Juan Quintero:

According to the ol' translate button, that reads "The possibility of Juan Fernando Quintero to play with Arsenal is real. On Monday it would be coming to London. I wish becomes a reality." The reality here, though, is contingent on a number of things, and there are reasons to be skeptical. Quintero has a hefty buyout clause, and FC Porto generally don't sell on the cheap:

Arsenal already have a wealth of attacking midfielders, including the man Quintero would presumably replace, Santi Cazorla (around whom rumors float as well). 40 million euros is an awful lot even for a 21-year old, and although Quintero had a good season at Porto last year, and a decent world cup, this is the kind of move that seems unlikely given that Arsenal, so far, have only spent realllly big on proven world-class players. If Porto came down on the price a fair amount, it would seem likely, but for now, don't get your Quintero-shaped hopes up.

UPDATE: it appears that reports are saying the move is meant to be for 20 million euros: