Really, Really cannot see this happening.
For a start, Arsenal have already sold us four very important players and therefore I very much doubt they would sell us anybody else, especially not the player who is the only reason why they are still in the top half! If he goes, I would struggle to see them having any form of European football next season.
Next, hasn't Van Persie said he is happy at Arsenal? If that is the case, why would he want to leave somewhere where he is happy, he's the captain, he's first choice and he's loved by all, for a club where he would be the fourth choice striker and would very rarely play more than three games in a row without being dropped.
Furthermore, if Arsenal were to sell him, what would they want for him? We can't bring any other striker in until Tevez has gone. That could be very difficult, as we need to find a club that both wants and can afford him. The additional problem we have now is, most clubs will now have a smaller valuation of him, but City are still determined to get his full value. Hence this could be a big problem.
And even with Tevez gone, we've still got people on the books such as Adebayor and Santa Cruz.
Personally I'd much rather see us have Adebayor as Tevez's replacement. If people think it would work having Van Persie as fourth choice, then surely it could work with Adebayor as well. Would save us a lot of money. I'd absolutely hate to see him join Spurs permanently because he is such a quality player and I still feel he has something to offer to the club. Despite what some think of him, he'd never have done what Tevez did.