West Ham have signed goalkeeper Darren Randolph following his exit from Birmingham City.
Reports from France have suggested that Marseille have agreed to sell the defender to the European champions for €8million.
Labrune and his sporting director Jose Anigo have been in London this week, which promoted suggestions that a deal had been agreed.
But when asked about the reports the French club's supremo told La Marseillaise: "I do not know who started this story, but they are totally wrong.
"It surely comes from agents that have an interest in the deal.
"Maybe they imagine that by running around making a noise about 8million euros it will make a difference, but it will not.
"For the moment nothing is happening."