Mancini also revealed that the Brazilian is in his City squad for Wednesday night's Carling Cup semi-final second leg clash with arch-rivals Manchester United at Old Trafford.
Robinho scored for City in their 4-2 FA Cup fourth-round win at Scunthorpe on Sunday.
"It is possible that something could happen,'' confirmed Mancini.
"This kind of thing does happen. I know in Italy there were instances when clubs paid a lot of money for a fantastic player but afterwards he needed to play at another club.
"Negotiations are happening but for now he is part of my squad."