Oxlade-Chamberlain is out of contract next summer and is no closer to signing a new deal with the Gunners.
The England worldwide has entered the final 12 months of his current Arsenal deal to prompt speculation about his long-term future.
Arsenal have tried to tie Oxlade-Chamberlain down to a new contract, but so far, the player's representative has rejected all the offers.
And now the Daily Mail claim the Premier League champions have stepped up their in Oxlade-Chamberlain, launching an opening bid of £25m.
Arsenal are aware of Chelsea's interest and have rebuffed initial overtures.
Conte may well see him as a right wing-back primarily (is that even Oxlade-Chamberlain's best position?) but you can be sure if there are injuries out wide or in central midfield Oxlade-Chamberlain will be asked to fill in.
Liverpool and Chelsea have both shown an interest in the player this summer. "He's had some small injuries but previous year he was much more stable. He is on the way up and he will continue to move up because that potential is there", Wenger said. Personally I believe he is a hugely talented player who is on the way up. He's today very conscious of his qualities as well, something he was not always.