The 23-year old has found first-team opportunities limited at the Allianz Arena in recent seasons, although he is under contract with the European champions until 2016.
Bremen were reported to have been keen on a move for Contento, but Bayern have told their Bundesliga rivals that they are not prepared to part with the German, Eichin revealed.
"Just recently we have received the clear signal from Bayern Munich that they are not ready to part company with him," he told German newspaper Kreiszeitung Syke.
"Therefore we have stepped out of any bidding. You never know in football but at this point in time, a transfer will not happen."