Coach Jose Mourinho is interested in the playmaker and is prepared to offer £8 million, although Elano has yet to hear anything from the club itself.
"I do not know anything about Inter's interest," Elano told Brazilian paper O Globo. "Mourinho is a great manager but I have to repeat that I do not know anything about Inter right now."
Elano moved to Man City in 2007 from Ukrainian side FC Shakhtar Donetsk on a four-year contract.
Mourinho, meanwhile, has refuted speculation that he will quit the Italian champions to join Real Madrid in the summer.
"I'm an honest person, I've always been, and as I'm sincere I wanted to keep my president (Massimo Moratti) in the loop about the (Real) offer," he said.
"He found out only from me, not from the press nor anyone else and if I had truly wanted to leave I wouldn't have said anything, I would have gone and that's it.
"If in the past I said I would stay here 100 percent, maybe I would have made a mistake because in life there are few certainties