Lyon president Jean-Michel Aulas insists Tottenham have yet to lodge an approach for Fred.
Spurs boss Harry Redknapp has confirmed his interest in the striker and was due to meet with the Brazilian on Tuesday until the player failed to show in London.
Fred does, however, look destined to be on the move before the January window slams shut after falling out of favour at Stade Gerland.
With his contract due to expire in the summer, and with no intention of signing a new one, he must manufacture an exit before 2nd February if he is to find regular first-team football.
Brazilian club Palmeiras are still keen on taking the 25-year-old back to his homeland, but Aulas believes the player would prefer to remain in Europe.
"All I know is I haven't received a single offer concerning him, in any case from a European club," said the Lyon supremo.
"The only one has come from Palmeiras of Brazil, but Fred doesn't want to go there.
"Regarding Tottenham, we haven't talked. The last news is that there is a disagreement between Fred and the English club."
With the saga threatening to distract from matters on the field, Aulas has now given Fred until the weekend to find himself a new club.
"Fred is in the process of tarnishing his image, notably with the big clubs," he added.
"He must go to a European club by Saturday evening and there will be a transfer fee. It will not be too high, but there will be one.
"And he knows what is expected of him if he has to stay."