The Gunners have made significant progress on signing their priority January transfer window signing, and are understood to be finalising a club-record deal for the 22-year-old winger.
A fee worth in excess of £50m will reportedly be paid up front, with the player's price skyrocketing since the summer where he was understood to be available for closer to £30m in total.
Gunners boss Mikel Arteta was on Friday tight-lipped on incoming signings, telling reporters: "There is some interest in things we’d like to do to improve the team, because we are a bit short in certain areas."
With negotiations between the clubs understood to be down to the final details on the blockbuster move, Shakhtar have told their Twitter followers that an "interesting" update is coming.
The tweet read: "There are more interesting stuff coming up ... We are ready to share another piece of news as soon as our page reaches 51 thousand subscribers."
The page has since surpassed 52,000 followers, so the update is imminent.