Chelsea have rejected Barcelona’s proposal of swapping Malcom for Willian, reports The Daily Telegraph.
Barcelona have rekindled their interest in Willian this month after failing to sign the Brazil international last summer.
Chelsea rejected several bids for the 30-year-old last year and their stance has not changed this month.
Barcelona are open to selling Malcom despite the fact they signed him from Bordeaux in a £38m deal last summer.
The 21-year-old has failed to make any impression at Barcelona, starting only one league game for the defending Spanish champions.
Ernesto Valverde’s side were willing to offer cash plus Malcom in a deal to prise Willian away from Stamford Bridge, in a deal that would be worth around £50m.
Chelsea are in the process of attempting to overhaul their attacking options this month, which they hope will involve replacing Alvaro Morata with Gonzalo Higuain.
With Callum Hudson-Odoi also subject to strong interest from Bayern Munich and Eden Hazard on course to leave at the end of the season, adding Willian’s departure to the mix would prove too much too soon.
Willian has started 18 Premier League games for Chelsea this season but has only scored twice and provided three assists.