Sportsmail reported earlier this month that United had held more discussions over a potential £22million transfer for the right back.
But Arsenal are also keen on the Belgian international and Arsenal manager Unai Emery has expressed his interest to Meunier, according to French outlet RMC.
Arsenal have reportedly opened talks with Manchester United transfer target Thomas Meunier
However PSG reportedly want £27m plus bonuses for the defender and that could prevent the Gunners from being able to land Meunier.
Emery has a limited transfer budget – just £45m – to rebuild his squad this summer after his side missed out on qualifying for the Champions League last campaign.
Arsenal are reportedly looking to sign a central defender and a left back rather than a right full back.
Meunier made 31 appearances for the Ligue 1 outfit last season in which he bagged five goals and supplied seven assists.
But Paris Saint-Germain’s asking price of £27million plus bonuses could stop a possible move