Reports emerged in France earlier this week that the Swans had been linked with a ??3m bid for the former France U21 international, who can operate on the left side of midfield or defence.
Tabanou’s agent, Philippe Lamboley, said: “The two clubs are in discussions, but I cannot confirm a bid has been made.”
However, St Etienne president Bernard Caiazzo insists??the 25-year-old will be staying at the Stade Geoffroy-Guichard to help the club’s push for Champions League football.
“Tabanou will not leave this winter”, he told Eurosport. “Even if we receive a good offer, he will stay at the club for sure.”
Tabanou has been a regular for St Etienne since joining from Toulouse in 2013 and still has two-and-a-half seasons to run on his contract.
Swansea are looking to strengthen their defence despite the signing of full-back Kyle Naughton from Tottenham Hotspur last week.