Manchester City have abandoned hope of luring Fernando and Eliaquim Mangala from Porto, Goal has learned.
Manager Manuel Pellegrini had sanctioned a double deadline day swoop in a late bid to strengthen his squad ahead of the Premier League run-in.
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The player changed his mind following interest from City, who then made a £3.5 million bid - half of Porto’s valuation.
City had earlier given up on Mangala after being unable to negotiate down Porto’s asking price of more than £40m, but retained hope of getting Fernando.
But Porto have held firm despite repeated attempts to get a deal done on Friday.
Porto's salary package for Fernando included an agreement that the Brazil-born holding midfielder can leave in six months' time for a set fee of €15m [£12.3m].
City do not expect any players to leave the club on Friday. Joleon Lescott had been linked with a move away from the Etihad Stadium throughout January, while recent rumours had suggested that Jack Rodwell could be loaned out, but the failure to recruit the Porto pair appears to have put paid to those plans.