AC Milan vice-president Adriano Galliani claims the club are not interested in Riccardo Montolivo or Ganso.
Both players have been strongly linked with summer switches to the reigning Serie A champions.
Fiorentina midfielder Montolivo is understood to be a long-standing transfer target, with both parties having hinted in the past that they would like to do a deal at some stage.
Galliani, though, insists there are no plans to push through a move during the current transfer window.
He has also sought to play down speculation suggesting Milan are ready to make highly-rated Santos playmaker Ganso their latest Brazilian recruit.
"There are no negotiations in place to sign Montolivo," Galliani told the club's official website.
"Milan does have a vacant place for a non-European player but it's not Ganso."
Nevertheless, Galliani has not ruled out acquiring a midfielder before the transfer window closes, following the departure of Andrea Pirlo to Juventus last month.
"If another player was to arrive it would be a midfielder," he added.
"However, I believe that Pirlo can be replaced by a player that we already have in our squad.
"Right now we are happy with what we have and the team is 99 per cent complete.
"If a player was to arrive, one of our players would have to leave."
The Rossoneri have not made a big splash in the transfer market this summer, with Philippe Mexes, Taye Taywo and Stephan El Shaarawy their only new additions.