Liverpool are close to agreeing a deal for France forward Nabil Fekir.
Talks between the clubs could conclude on Friday about a deal that may amount to 60m euros (£52.75m) - 55m (£48.35m) plus a maximum of 5m (£4.4m) add-ons.
However, Lyon "categorically denied" the transfer of the playmaker is imminent in a tweet on Friday.
The 24-year-old Lyon captain has been one of Reds manager Jurgen Klopp's prime summer transfer targets and has his heart set on a move to Anfield.
Fekir is due to fly to Russia with France's World Cup squad after their game against the USA on Saturday.
Lyon president Jean-Michel Aulas has a reputation for being a tough negotiator, and Friday is emerging as a key day in talks as Liverpool move to get the deal completed before the weekend.
Fekir's proposed arrival would be the latest ambitious statement from the Champions League finalists after the £39m signing of Brazilian midfielder Fabinho from Monaco, and with Naby Keita arriving from RB Leipzig in July in a deal worth £52.75m.
The Reds are also considering whether to activate the £12m release clause in Xherdan Shaqiri's contract as he is poised to leave Stoke City following their relegation to the Championship.