Zenit St Petersburg have not yet tabled a bid for Parma striker Sebastian Giovinco, according to the player's agent.
Reports in the Italian press on Wednesday suggested that Giovinco could be on his way out of Serie A this summer having apparently caught the eye of the Russian Premier League leaders.
However, the Italy international's agent, Andrea D'Amico, says that there is "nothing concrete" to report.
"Zenit are a great team and a great club, but we must not forget that Giovinco is co-owned by Parma and Juventus," D'Amico told Tutto Juve. "That agreement between those two clubs has still to be resolved first."
"As a result, one cannot comment or express favourability, also because there has been nothing concrete from Zenit. With no offer, you can't be in favour of a move or not."
Giovinco, who arrived at Parma in a €3.5 million deal from Juventus in 2010, has scored ten goals in 27 league games so far this season.