Goals from Kevin De Bruyne, Sergio Aguero and Gabriel Jesus condemned the Gunners to a 3-1 defeat at the Etihad Stadium.
Harry WInks suffered an ankle injury during Tottenham's win over Crystal Palace and is now doubtful for England's games against Brazil and Germany.
Francis Coquelin started at centre-back as part of a back three during Arsenal's loss against Manchester City.
Jose Mourinho has refused to throw in the towel in the Premier League title race after the 1-0 defeat at Chelsea left Manchester United 8 points behind Manchester City.
Kevin De Bruyne, Sergio Aguero and Gabriel Jesus all net as Manchester City equal a club record of nine successive league victories in a single season.
Premier League leaders Manchester City are expected to revisit their interest either in January or at the end of the season.
Kolasinac, who arrived on a free transfer from Schalke this summer, has quickly grown into an influential figure at the Emirates.
Arsene Wenger has made it clear that Alexis Sanchez will not be sold to Manchester City during the January transfer window.
Arsenal are massive underdogs going into the fixture, trailing the league leaders by nine points, with 10 games played thus far in the campaign.
Guardiola would not be drawn on another potential swoop for Sanchez before Manchester City entertain Arsenal in the Premier league on Sunday.
Arsene Wenger has confirmed that Sunday's trip to Manchester City will come too soon for David Ospina, Shkodran Mustafi and Danny Welbeck.
Liverpool left-back Alberto Moreno has been included in Spain's 25-man squad ahead of Arsenal's Nacho Monreal and Chelsea's Marcos Alonso.
Arsenal midfielder Santi Cazorla is still confident of returning to action in the New Year after detailing his horrendous struggle with an achilles injury.
The Gunners have not won the title since 2004 when Arsene Wenger could call on the likes of Patrick Viera, Ashley Cole and Thierry Henry, among others.
Wilshere was not included in the squad for the England friendlies next week despite Wenger stating that he believes the midfielder is ready to get back into the international fold.
Arsene Wenger happy with his selection policy after Arsenal's second-string stutter during dull Europa League draw against Red Star Belgrade.
Cologne's win over BATE Borisov means Arsenal book their place in the last 32 with two matches to spare, despite being held to a goalless draw by Red Star Belgrade.
Red Star Belgrade striker Richmond Boakye says he will not feel under pressure to impress any Chelsea scouts during Thursday's Europa League clash with Arsenal.
The Gunners will play their fourth group game of the campaign against Red Star Belgrade in the Europa League, having won all three games thus far.
Barcelona technical secretary Robert Fernandez watched CSKA starlet Aleksandr Golovin in action during Basel's 2-1 defeat to CSKA Moscow on Tuesday night.
Thomas Lemar had attracted interest from Arsenal and Liverpool in the summer transfer window, with both clubs making an approach for the Frenchman.
Arsene Wenger suggests the Gunners will not make a move to sign Thomas Lemar from Monaco during the January transfer window.
