The defender, who took over from Per Mertesacker as the club’s captain last year, has made over 350 appearances for the Gunners since joining the club from Lorient in 2010.
The Frenchman refused to go on the club’s tour of the US in order in an attempt to force through a return to his native France.
And his refusal came as he was believed to be upset at a supposed broken promise from Arsenal that would he would be allowed to return to Ligue 1 ahead of the 2019/20 campaign.
However, according to French outlet RMC, Rennes are in pole position to sign the central defender after agreeing personal terms with the 33-year-old.
Rennes, who finished tenth in Ligue 1 last season, are currently coached by the highly-rated Julien Stéphan and he is keen to add an experienced defender to his side’s ranks.
Former boss Arsene Wenger, who signed Koscielny ten years ago, has admitted he is ‘surprised’ by the situation in north London.
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