West Ham United reportedly had a £2million offer for the Swedish left-backs services rejected and Appleton has made it clear that Rovers will not be hurried into a sale.
"Nothing is happening at the minute," Appleton told reporters at his unveiling to the press at Blackburn on Thursday.
"I was made aware of a bid that was put in before I took the reins but it is way below the value we see him at.
"Until a bid reaches the valuation we think it should be, there is not a conversation. Martin continues to be a Blackburn player.
"He is a fantastic player, an international with bags of talent, and I am looking forward to working with him."