Aston Villa failed with a late winter market attempt for Islam Slimani last month.
The Leicester City striker is on-loan at AS Monaco this season, though had an offer to return to England before the deadline fell.
France Football says all three clubs involved were in agreement - but Slimani couldn't be persuaded.
The Algeria international was unconvinced by the 'project' Villa were proposing and so chose to remain with ASM.
Slimani swooped for an injury-time winner against Amiens on Sunday.