Reports on Monday claimed that the Reds had tabled a £20m offer for the Croatia international, but the Saints manager told Sky Sports News that the speculation is wide of the mark.
He said: "No, as I heard in the last week, there has been no bid for Lovren from Liverpool.
"That's the situation and it has not changed. He will continue playing [for Southampton], it's that simple.
"We know there is a lot of interest in our players, that is normal, but we have to wait and we work on the team and the squad and we like to continue with that [squad], and what will happen will happen."