Reports in Spanish publication 'Marca' had claimed that there was a deal agreed between the two sides, pending legal ratification.
However, it appears that this is not the case. French news outlet 'Le Parisien' claims that high ranking sources at the Monegasque side have poured cold water on the reports of an agreement.
'Marca' went as far as to claim that a fee of €160m plus €20m in add-ons had been agreed between the two sides, however this has been completely denied by Monaco.
In fact, Monaco claim to have not even received an offer from PSG, making the idea of agreeing a fee somewhat far-fetched.
'BeIN Sports', which like PSG's owners is based in Qatar, also claims that "it's sources at PSG have denied talk of an approach for Kylian Mbappe", whilst 'Goal.com' also insisted that "according to sources at PSG, the club have made no offer to Monaco for the French international".
There have been regular rumours of interest in the player from the French capital and it had appeared to be a case of 'no smoke without fire', though PSG refused to comment.
Another chapter in the Mbappe saga. It's starting to look like this one could run and run.