Guendouzi spent two years at the Gunners between 2016 and 2018 and also had spells at Hertha Berlin and Marseille before heading to the Italian capital in 2023.
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The 26-year-old, who made the last of his 14 France appearances in June, is reportedly set to move for 30 million euros ($35.04 million) on a five-and-a-half year deal.
“We are continuing talks with France player Matteo Guendouzi and his club regarding his transfer,” the 19-time Turkish champions said on social media.
“In this context, the player has been invited to Istanbul to advance the transfer negotiations and undergo medical examinations,” they added with a photo of Guendouzi on an aeroplane.
Guendouzi’s new club are second in the league table, three points off leaders Galatasaray.
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