Rennes anchorman M'Vila, 22, has been a long-term transfer link for the Gunners, with reports stepping up due to the chronic injury problems suffered by Diaby and Jack Wilshere.
But, speaking from Arsenal’s pre-season tour of the Far East, Wenger insisted that Diaby – who is fit and ready to play against a Malaysia XI – will be key to the club’s fortunes.
“No [I am not interested],” Wenger said in reference to M'Vila. “We wait on Diaby and Wilshere.
“When you look we have [Alex] Song, [Aaron] Ramsey, [Francis] Coquelin, Wilshere, Mikel Arteta and Diaby.
“In defensive midfielders and box-to-box players we are not short if they are all coming back. If we have setbacks in pre-season it could be different.”
Diaby, it seems, is key to Wenger’s thoughts. He plays in the same position as M'Vila and the French coach is convinced the 26-year-old is the best man for the job – despite a dreadful injury record that has seen him play 21 Premier League matches in the past two years.
“He is the first player who would be on the France team-sheet in midfield when he is fit. Laurent Blanc said that before the European Championship and he waited a very long time to know if he could play or not. But he couldn't,” Wenger added.
“You can't imagine how happy I am firstly to have him in the squad, because he is an exceptional player. I am cautious but confident because he had two hard weeks and came through it well.”