Los Blancos have been heavily linked with a move for the Wales forward, with the potential transfer fee reported to be in excess of €100 million.
However, Tottenham Hotspur have held firm over any proposed move and Villas-Boas has spoken out about Madrid's public courting of last season's PFA Player and Young Player of the Year award winner.
And Ancelotti has sought to play down reports of los Merengues' interest in Bale and stressed he would not be discussing the matter further so as not to infuriate the Spurs management."There are no new developments," the 54-year-old told the Corriere dello Sport.
"When I spoke about this recently, Andre Villas-Boas complained, so it's a delicate issue to discuss."
Real Madrid begin their La Liga campaign against Real Betis on Sunday at Santiago Bernabeu.