It had been widely reported in France that Marseille had agreed to sell the defender to the European champions for €8 million.
Speculation grew as it was revealed that Labrune and his sporting director Jose Anigo had been in London.
But Labrune told La Marseillaise: "I do not know who started this story, but they are totally wrong.
"It surely comes from agents that have an interest in the deal.
"Maybe they imagine that by running around making a noise about 8million euros it will make a difference, but it will not.
"For the moment nothing is happening."