Reports had emerged last week that a deal worth £5m had been agreed upon by the two clubs and that Embalo was due to start training with the club's academy.
But despite dismissing those claims, the agent did confirm that discussions over a potential transfer had taken place.
Speaking to A Bola, he said: "Nothing is done, and the conversation, nobody communicated anything to me, nor to the parents. He has interest from several clubs, because he is an asset of Benfica and has gone down this route well.
"I can say that all the great clubs in Europe have already asked for information about Umaro, from Germany, England, Spain, France.
"If he's going to Manchester is something that I don't know at all, but it's true that we have already met with Benfica and Manchester, there is no agreement, but there are conversations."