Sky Sports says Barca have already seen two bids rejected for Fabregas this summer, and now their latest offer has seemingly been shunned.
It is believed Arsenal are standing firm on their £40million (€45million) valuation of Fabregas.
The latest offer from the European champions is reported to have been €29million plus €6million in future add-ons, whilst Fabregas was also believed to be putting a €3million sum towards the move.
But the overall package - worth €38million - is still some €7million short of what the Premier League club are demanding.
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