Roma are "considering legal action" after FC Barcelona sensationally hi-jacked their Malcom transfer at the last minute.
Bordeaux - who signed Malcom from Corinthians in 2016 - had also announced the agreement, subject to the signature of "administrative documents".
# Bordeaux booked a flight to Roma for Malcom to travel for his medical. Just a couple of days back, Malcom looked all set to join AS Roma and the Italians were suddenly starting to look like a talent-mine of sorts with some very enterprising and young players all set to take the new season by storm. However, Barcelona again outbid them. If someone wants to come to Roma that is great, but ultimately if they do not want to come to Rome then we do not want them.
"Now, within the club, we are looking at our options and seeing if we have a legal case".
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Monchi said that Malcom had been expected to travel to Rome on Tuesday evening, but that, after a midday meeting between the Brazilian's representatives and Bordeaux, he was told "that the agents and Bordeaux wanted another offer as Barcelona were still pushing for a deal".
Media reports said Malcom's change of destination came after Barca's move for fellow Brazilian forward Willian broke down when they were unable to agree on a transfer fee with Chelsea, leading them to turn to Bordeaux's fleet-footed wide forward.
The flight that was due to take Malcom to Rome for a medical was promptly cancelled, and the former under-20 global was confirmed as a Barca player less than 24 hours later, for a fee believed to be around €41m. "It is true that nothing was signed, but there are many messages with the agents and [Bordeaux] president [Stephane Martin] that are at least worth being assessed".
Malcom scored 12 goals and registered eight assists in 38 appearances for Bordeaux in Ligue 1 last season - the French club thanking him for his "hard work and commitment" and wishing him "all the best for this new adventure".
He is the club's second Brazilian summer signing, after midfielder Arthur joined from Gremio for £35.5m.
Roma sporting director Monchi said "nothing was signed" with Malcom, who had also been linked with a move to the Premier League, with Arsenal, Everton and Tottenham said to be interested.