Liverpool and Arsenal are in talks with Universidad de Chile over Eduardo Vargas, according to the player's agent Diego Cativa.

32125 - Liverpool and Arsenal 'interested in Chile star'

The 22-year-old winger is expected to move to Europe in the New Year and, although Italy has been mooted as his most likely destination, the Premier League giants also appear interested in securing a deal. It seems they will have to move quickly, with reports suggesting Inter have already tabled a bid.

"The clubs are speaking a lot but little progress has been made," Cativa told "We are talking with AC Milan and Inter Milan, who have made proposals, as well as with Liverpool, Arsenal and a number of other clubs. Interest from Vasco de Gama? They cannot compete with the clubs that are already interested."

Vargas has made nine appearances for Chile since making his debut in 2009, scoring two goals. He is being discussed as a leading contender for the South American Footballer of the Year gong.