The 33-year-old Sweden international left the club for Paris Saint-Germain in 2012 as the French side sealed a sensational double swoop for the striker and Brazil defender Thiago Silva, who has also been linked with a return to the Rossoneri in recent weeks.
However, PSG coach Laurent Blanc has dismissed any possibility of Ibrahimovic leaving the Parc des Princes this summer and Galliani is happy to put Milan’s interest on hold.
“We will wait to see what happens. Ibra is the only one with a licence to kill,” he told reporters.
Meanwhile, Galliani revealed that Milan have ended their interest in Zenit ace Axel Witsel as he believes that they are now well stocked in midfield
“No [we won’t sign Witsel], that’s enough now," he added. "The only objective left is a central defender.”
With Thiago Silva’s agent insisting Milan cannot afford him, the club turned their attentions to Roma’s Alessio Romagnoli but had a bid of around €25 million rebuffed by the capital club this week.
Milan are restructuring their squad under new coach Sinisa Mihajlovic after last season's 10th-place finish, which cost former coach Filippo Inzaghi his job.
Strikers Carlos Bacca and Luiz Adriano, and midfielder Andrea Bertolacci, have already arrived at a combined cost of almost €60 million, while Stephan El Shaarawy, Giampaolo Pazzini and Adil Rami are among those to have departed.