Sky Sports revealed over the weekend that Newcastle had an active interest in the midfielder, who is understood to be keen on a move to the Premier League.
"Manchester has not sent any proposal," Nicollin told Midi Libre.
"As for Newcastle , it seems to me they are about to make one, but I expect confirmation on that. But the idea is still that Remy is with Montpellier until June."
Montpellier coach Rolland Courbis admitted that he wants Cabella to stay, but the decision rests with Nicollin.
"Remy Cabella? It is best to keep him but if Loulou [Nicollin] decides that it can be done in January, it will be in January," he said.
Newcastle are expected to make a firm offer for Cabella this week, as they hope to complete a couple of deals early in the window, and are also keen to finalise a move for Dutch forward Luuk de Jong.