Talks between the two clubs have taken place, but the French outfit's €15m valuation of the Brazilian is considered as too steep by the Italians.
With no move on the horizon, L'Equipe claim that the 28-year-old will sign an extension with his present club.
The Brazilian international, a left-sided midfielder, is currently tied to Lyon until June 2013.
Michel Bastos looks set to sign a new contract instead of joining Italian giants Juventus this summer.
"Nothing will distract me," stated 在线外围投注“>Bastos. "I'm working hard to help the team. If I stay then I know I will have an important role.
Paired with the Old Lady for over a year, Bastos was thought to again be a target for the Bianconeri this summer.
"I'm psychologically ready."