The 23-year-old Italy international has been touted as a target for the north London club in recent weeks as Wenger looks to bolster his attacking options ahead of the new campaign.
I have not been in Brazil and I have never met Wenger
However, Mino Raiola says that the Italian club have informed him that the forward is not for sale and rejected claims that he has held talks with Wenger over a possible move.
“Mario has a contract with Milan, the club called me and he is non-transferable,” Raiola told RaiSport.
“I have not been in Brazil and I have never met Wenger.”
Former Manchester City striker Balotelli scored 18 goals in 41 appearances for AC Milan last season.
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