The Italian side claim they have no intention of making a move for the creative forward in January, leaving the Premier League champions in pole position for his signature
As exclusively revealed by Goal.com, City tried to capture the 22-year-old forward in the last weeks of the August window but the Serie A club managed to hang on to their prize asset.
However, City are preparing a fresh attempt to sign Jovetic in the January transfer window, and may now be encouraged as the Bianconeri, who came close to signing the Montenegro international in the summer transfer window, are no longer believed to be targeting the forward.
Instead, Juventus have turned their attention to Roma's Pablo Osvaldo instead, which could provide added impetus to City boss Roberto Mancini's chase for Jovetic.
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"We spoke with Fiorentina president [Mario] Cognigni and sporting director [Daniele] Prade about Jovetic," Marotta was quoted as saying by La Gazzetta dello Sport.
"However, we are no longer interested in signing him now."
Marotta then went on to discuss his side's interest in Napoli star Edinson Cavani, and insisted that Juve did not attempt to sign the Uruguay international during the summer transfer window.
"We have not even tried to sign Cavani. We knew that Napoli had no intention to sell him," he said.
Cavani signed a new contract with Napoli earlier this year that will keep him at the club until June 2017.