It had been suggested Gundogan could return to Dortmund as he stalled on discussing new terms with City.
However, the midfielder has now intimated a willingness to consider a new contract with the Premier League champs.
"There will be talks in the summer and then we'll see. I'm not dissatisfied with Manchester City so I would not say that I absolutely want to leave," he said.
"The club also wants to extend."
Asked about the BVB rumours, Gundogan also stated after Germany's 8-0 defeat of Estonia: "I don't know about that. I know nothing, I have not spoken to anyone."