Both sides were reportedly close to agreeing a deal, which would have seen Vucinic move to Milan and Guarin go in the opposite direction.
However, Inter released an official statement on Tuesday night explaining the reasoning behind the deal's breakdown, with reports in Italy suggesting Arsenal may resurrect their interest in the Juve striker.
"President Thohir, having conferred with Massimo Moratti and the club's management team, did not feel that the necessary technical and financial conditions were in place to come to a satisfactory agreement," the statement read.
"The president has already instructed the club's sporting directors to assess other transfer opportunities, with the aim of strengthening the team while respecting the parameters imposed by the Financial Fair Play rules. "
Juventus have themselves issued a statement, revealing their intention to focus on Tuesday's Coppa Italia match with AC Milan rather than comment on the deal.
"Juventus Football Club does not wish to comment on the statement released by FC Internazionale," it said.
"The club is focused on tonight's Coppa Italia match and will assess and explain the disconcerting events that have come to pass in due course."