Owen Coyle has admitted he is still an admirer of Jack Wilshere but has played down speculation linking Bolton with moves for Guti, Matt Kilgallon and Andy Wilkinson.
Coyle was eager to take Arsenal starlet Wilshere on loan when he was in charge of Burnley and held tentative talks with Arsene Wenger.
Coyle remains interested in the young midfielder even though he has since been appointed manager of Bolton.
However, he does not want to give too much thought to the matter until after the Trotters have played their Premier League game against Arsenal on Wednesday.
Asked if his interest in Wilshere was still there, Coyle said: "Always. I admire good players and that kid is certainly a good player.
"I'm a little bit uncomfortable talking about it because we play Arsenal on Wednesday and I don't think that's the way we should go about it.
"But he's a fantastic young player, a player I believe will eventually play in the Arsenal first team and for England.
"He's one that I've always admired, but I think that conversation is for after Wednesday night when we've played Arsenal, and we'll take it from there."
Real Madrid's Guti is another player to have been linked with a switch to Bolton and the veteran midfielder stated earlier this week that he would relish the challenge of playing in another country.
Guti's contract expires at the end of the season and a move to the Reebok Stadium would see him follow in the footsteps of stars like Ivan Campo and Fernando Hierro.
Former Bolton boss Sam Allardyce brought those players to England but Coyle insists he has not made an enquiry about Guti.
"Guti has always been a fantastic player, a top player in world football all his days, and I think the job Sam Allardyce did at this football club was unbelievable and all credit to him," said Coyle.
"I think what you do is you recognise if there is a position that you think can help the football club and there is the right kind of player available then you look to strengthen it and bring in accordingly.
"But I haven't had any conversation about Guti with anybody."
Kilgallon and Wilkinson
Coyle also confirmed he had not made an approach to Sheffield United for Kilgallon or Stoke for Wilkinson.
He said: "I'd be quite comfortable telling you if I'd spoken to anybody about any of those players and I haven't.
"I think we all recognise that because there is a transfer window there will be speculation and if a new manager comes in, you're going to be linked with everyone from Guti to whoever else is thrown up.
"If and when I have news, you will be the first to know about it."
One player who could be about to sign on with Wanderers is USA midfielder Stuart Holden, who has impressed Coyle during a trial with the club.
"Stuart did well since he came in," he praised.
"He's picked up a little thigh injury in the last couple of days which has curtailed his movement a little bit.
"But he's done well and I'll have a chat with him today and his representative and see where we go from there."