Much as I'd like a Wenger coached Ben Arfa at Arsenal, why would he leave?
Newcastle have a great shot at CL or EL football next year, there's a large French-speaking contingent at the club and he's in great form. I doubt he'd be hugely willing to disrupt that. Maybe if this season proves a one off, or the club struggles with the demands of extra games next year he might look elsewhere, but this summer it just seems unlikely.
And even if he was wanting out, Newcastle have shown they're not going to let people go cheaply, so Wenger would be unlikely to pay the asking price. How long does Hatem have left on his contract atm?