Reports have emerged from France claiming the ambitious capital club had been unable to reach an agreement with Tevez over a possible move for the unsettled Manchester City star.
Tevez's advisor Kia Joorabchian had travelled to Paris to meet with senior club officials, including sporting director Leonardo and new coach Carlo Ancelotti.
It is understood the talks are unlikely to be resurrected, meaning Tevez's future remains uncertain, although there is still interest from Italy.
Inter Milan are in negotiations with City while AC Milan, the other club to have been heavily linked with the 27-year-old, recently pulled out of discussions.
There has been speculation, however, that the Serie A champions could resurrect their interest in the out-of-favour player before the end of the January transfer window.
Tevez has not played for City since becoming embroiled in a dispute with the club in September and is currently in Argentina awaiting a possible move.
Manager Roberto Mancini said on Friday he hoped the saga could be resolved quickly but latest developments may scupper those wishes.
Either way, the Italian admitted the player does not have a future at the Etihad Stadium.
When asked if Tevez could return to his team if a move failed to materialise, Mancini said: "This is impossible. Carlos doesn't want to stay.
"It is important for him to start to play because he is a football player.
"It is now three months that he hasn't played and this is not good for him."
He added: "I hope for him everything can finish very quickly."
City have largely thrived in spite of Tevez's absence, and lead the Barclays Premier League by three points ahead of Sunday's eagerly-anticipated clash with Tottenham at Eastlands.
The front-line strike trio of Sergio Aguero, Edin Dzeko and Mario Balotelli have scored 41 goals between them in all competitions.
Even so, injuries to Dzeko and Balotelli this month have left City looking light up front in certain games.
Nevertheless, Mancini does not believe he can use the Tevez situation as an excuse if his team fail to land the title now.
He said: "We can't think this.
"We have three strikers. We are on the top.
"We did very well until now and we want to continue to be like this."