The striker was being linked with Manchester City in the English media before making his statement.
"I've decided to stay at Milan," he told Sport Mediaset as he arrived in Florence to join up with the Italian national squad.
"I have made a precise decision and, no matter what offer arrives, I want to stay at Milan.
"There's more competition in the squad now, but there will be playing time for everybody. I'll fight for my place in the team."
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