"The declaration of Galliani should mean something. Two days ago, he said that Stephan was not for sale in a comprehensive fashion," he told SportItalia.
"Although we can say that the market is a bit crazy and anything can happen, that is indisputable. The boy is doing well at Milan and for us nothing has changed.
"Offers from City? Nobody has called me regarding this. He is Milan through and through and looks great with the Rossoneri."
El Shaarawy, who has seven caps for Italy, is currently on international duty with his county's Confederations Cup squad.