Manchester City will not be signing Porto pair Eliaquim Mangala and Fernando, or any other players, on transfer deadline day.
Porto's asking price is understood to be well in excess of £40m, although the deals may be revisited in the summer.
France defender Mangala, 22, is attracting attention from Manchester United and Paris St-Germain.
Brazilian midfielder Fernando, 26, was the subject of interest from Everton on deadline day in August.
Manager Roberto Martinez attended a work permit hearing before the deal fell through.
Fernando has also been linked with a move to AC Milan.
No-one is expected to leave City before the deadline, ending the prospect of England defender Joleon Lescott moving out on loan.
The 31-year-old, who has played just eight Premier League games this season, has been a target for West Ham United.