The two teams go head to head in the Champions League group stages, with City already assured of qualification and top spot in their group.
Guardiola has not been afraid to admit his admiration of opposition players in the past.
However, when asked if he wanted to sign Olmo for next season, he shot down the rumours.
"The answer is no, we're not in talks to sign Olmo," he said, per Fabrizio Romano.
"[Olmo] is a Leipzig player. He's a fantastic player."
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