The 31 year-old was born in Pamplona, within the borders of the Basque region, and played for Osasuna before making the switch to Arsenal in 2013.
Guardiola was tight-lipped when questioned about Laporte's imminent arrival over the weekend.
Athletic Club have been busy of late, renewing a number of players' contracts, including young keeper Kepa Arrizabalaga, who was close to joining Real Madrid earlier this month after having a medical.
The capture of a player who has made more than 200 appearances for Athletic sets a spending record for City, narrowly beating the €62.5 million paid to Wolfsburg for Kevin De Bruyne three years ago. "I always try to do the best for the club; knowing the players that we have and knowing the players that can improve our squad". "You will know if it happens, it happens, if it doesn't, it doesn't happen".
Frequent injuries to Manchester City captain Vincent Kompany and Guardiola's lack of faith in Eliaquim Mangala meant the Catalan coach wanted to add another central defender to challenge Nicolas Otamendi and John Stones.
Athletic Bilbao also have plans to replace Laporte but they are waiting for Manchester City to conclude the operation before they can sign a replacement.
"Today 22 top players is too expensive to buy, even [for] City", the Spaniard was reported as saying.
Laporte is said to feel he can earn a starting spot under manager Pep Guardiola and convince France coach Didier Deschamps to hand him a debut in Les Bleus' lineup before jetting to Russian Federation this summer.