Ranieri is enjoying success with Nantes after a slow start to the season.
Speaking to Corriere dello Sport, Ranieri revealed he delivered a “no thanks" when his camp were offered a return to the King Power Stadium earlier this month.
Ranieri, meanwhile, believes the Premier League title will go to Manchester.
“I think the title will go to Manchester. City and United will go head to head till the title is decided.
"But there is also Tottenham while I don't think Conte at Chelsea has any intention to give in."