Arsenal manager Arsene Wenger did not comment directly on reported transfer target Mohamed Elneny but confirmed that he will be "busy" in the January transfer window.
Sources have told ESPN FC that Arsenal are in talks with Basel over a move for Egypt midfielder Elneny.
Wenger is short on midfield options with Francis Coquelin, Santi Cazorla and Jack Wilshere all sidelined.
The Frenchman said at Wednesday's news conference: "We cannot announce anything at the moment. Nothing has been concluded.
"I will be busy that is for sure. I have already said we are short."
Wenger was also asked about the future of Mathieu Debuchy, who has lost his place in the side to right-back Hector Bellerin.
Debuchy joined the Gunners from Newcastle in 2014 but injuries have restricted him to 12 Premier League appearances.
Wenger is quoted by the Daily Mirror as saying: "It's not impossible [that he leaves]. I'm happy if he stays but we'll see."
Earlier this month, France international Debuchy said he will seek talks with Wenger to discuss his chances of moving from the club ahead of next summer's Euro 2016.
Premier League table-toppers Arsenal are next in action on Saturday when they host Newcastle United.