It looks like Arsenal have signed Denilson from Sao Paulo, although there's no official confirmation on the website.
However, Arsenal.com seem to be suggesting that the Reyes/Baptista swap is actually a permanent deal, with transfer fees involved, rather than the loan deals that were previously reported.
However, Arsenal.com seem to be suggesting that the Reyes/Baptista swap is actually a permanent deal, with transfer fees involved, rather than the loan deals that were previously reported.