The president of the Ligue 1 champions claimed he had accepted the Nerazzurri's €14m bid for the playmaker, but the Italians have since moved to quash the reports
The attacking midfielder appeared to be on his way to Fenerbahce after agreeing personal terms with the Istanbul giants, before the reigning Ligue 1 champions' president Louis Nicollin suggested he may be heading for Serie A.
"We have reached an agreement with Inter over a transfer fee of €14m," he was quoted as saying by AMKSpor.
"Fenerbahce did not want to pay more than €8m. That's why I have opted to accept Inter's bid instead. Every player has his price, and €8m is not enough for Belhanda."
Inter, however, have moved swiftly to deny the claims.
In a statement released via the club's official website, technical director Marco Branca said: "We don't like contradicting the Montpellier president but Inter have not made an offer for Younes Belhanda."
The San Siro club are in the market for a new midfielder following the departure of Wesley Sneijder to Galatasaray earlier this week.