Recent speculation had claimed the Gunners had beaten Chelsea to the left-back who would arrive at the club this summer.
However, his father subsequently downplayed the rumours insisting nothing had been agreed with reports claiming the defender would choose between Arsenal and AC Milan.
Wenger was asked about Kolasinac in his pre-match press conference and denied a move is on the cards at the moment.
“Nothing, no,” he said when asked about contact with the player. “We can deny that story at the moment. Nothing has been concluded with anybody.
“I think it is important we do not talk about transfers.”