Arsenal are closing in on their fourth signing of the summer with Pepe set to be announced in the near future.
The winger was in London on Tuesday for his medical and footage leaked of him wearing an Arsenal shirt.
Still, fans are waiting for official confirmation from the club that the transfer has been finalised.
Emery was asked about the latest on Pepe’s situation after the club needed penalties to beat Angers.
The Spanish coach remained coy, but went on to suggest the club may not be finished in the transfer market after Pepe’s deal gets over the line.
“He played here in Angers a few years ago, and then in Lille,” he said.
“He has progressed as a player.
“We are speaking about a lot of players, we want to select one player who can really help us, give us big performances and improve our squad.
“We have different options.
“This one at the moment is not closed, but he is one we are following.”
He added: “No deal is official now, and I will only speak in the next hours or days if it can be official for us.”
One area Arsenal may need to strengthen in the days before the transfer window closes in at centre-back with Laurent Koscielny’s future still up in the air.
But Emery is hoping he can still convince the French defender to stay.
“I fight to convince him, but I respect his decision, a very personal decision, and that situation can only manage with one argument,” he added.
“I haven’t lost my hope that he will be with us next year.
“But at the moment his decision is to leave and we are also thinking if we can improve with other players and how we can help with him.”