Reports in England have linked the 25-year-old with a return to Italy after failing to make an impact at Anfield.
Aquilani joined Liverpool in a £20million deal from Roma last summer.
“A return to Italy? It seems a journalistic shot of the British tabloids,” Zavaglia told Tuttomercatoweb.com.
“I don’t know anything, because Alberto is well in Liverpool.
“There is talk of Juventus and Fiorentina but the Bianconeri have to define the structure of the club before thinking about the market.
“Equally, Fiorentina has the issue of Cesare Prandelli to resolve.
“Aquilani has recovered well from his ankle injury and for this reason I think Liverpool won’t get rid of him.”
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