The 22-year-old winger is keen on a move away from Shakhtar in the winter transfer window and is interested in joining Arsenal.
He has been the north London club’s top target for January and the club have been in talk with Shakhtar over a deal.
But the Ukrainian giants have rejected two bids and are demanding a fee of €100m before agreeing to let the player go.
Arsenal are still interested in getting their hands on the player and Shakhtar’s rejection have not cooled their pursuit of the player.
However, they are desperate to not get dragged into a bidding war in an auction for the winger’s services.
Chelsea and the Ukrainian outfit are reportedly expected to hold formal discussions for Mudryk this week.
Arsenal are keen to make sure that they do not overpay for the player and believe Shakhtar’s valuation of the player is unrealistic.