The Denmark international indicated his willingness to leave the Blues in January via his father on Friday if he cannot earn more game time under Maurizio Sarri.
It had been suggested that he could move back to the Bundesliga side, where he spent two years on loan, though on a permanent basis.
However, the Germans have cooled rumours over the prospect of signing the 22-year-old.
“We’ve got an outstanding relationship with Andreas, but the topic is not currently on,” sporting director Max Eberl told Sky Sports Germany. “We’ve got a top central defensive partnership, with Mathias Ginter and Nico Elvedi.”
Even if the player was available, Gladbach are wary that Chelsea’s asking price would have the potential of scuppering the deal.
“Although we have some money to spend, I’ve heard that Chelsea will only sell Andreas if they allow him to leave, and the amount they will ask for is very large,” he confirmed.
Christensen did not even make the squad at the weekend as Chelsea came back from behind to secure a 2-2 draw with Manchester United in a rollercoaster match.
Indeed, he has yet to play a single minute of Premier League football under Sarri, although he has featured in both the EFL Cup and the Europa League, playing every minute of European competition so far this term.
He had played a significant role under Antonio Conte in the 2017-18 campaign, including 27 outings in the Premier League, which accounted for a strong portion of his 40 appearances overall.
In Germany, meanwhile, he was an undisputed regular for Gladbach, with whom he played 43 times during the 2016-17 campaign, including four Champions League matches. A year earlier, he had turned out 39 times, missing only four matches overall, despite being only 19 years old.
Furthermore, he is a Denmark international, having made 20 appearances for his country, scoring one goal.