This summer, Arsenal and City both shown interest in the English midfielder.
Prior to Arsenal's counteroffer of more than £100 million to acquire Rice, City had seen a £90 million proposal for the 24-year-old rejected.
Guardiola asserts that Rice will be a "incredible player" for their Premier League opponents and that, despite strong interest from Manchester City, the player has always desired to work with Mikel Arteta.
“Rice decided on Arsenal so all the best.
“He’s an important player, a very nice guy and for England will be important. For Arsenal, what an incredible player,” Guardiola said.
Manchester City are set to face Arsenal in the Community Shield this weekend. Pep Guardiola will travel with his City side to the Emirates stadium on Sunday
The game is expected to kick off at 4pm GMT.
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