Espanyol chief Ramon Planes insists they do not want to sell striker Dani Osvaldo.
The Italy U21 international is a top target for Tottenham boss Harry Redknapp.
Planes told calciomercato.it: "Two weeks ago we received an offer from England.
"Can I confirm the price of €20 million? I can confirm that we have no intention of selling him. His season was very good and it could have been even better if it were not for his injury.
"He's still young and can only get better, it is too early to think about selling him."
