The agent of Brazil international Oscar has claimed that Chelsea have ended their interest in his client.
The Blues had a bid in the region of £20m turned down by Internacional for their attacking midfielder over the weekend.
Having been rebuffed, Carlos Meinberg Neto has admitted that it is unlikely that Chelsea will return with a second offer.
"The first proposal of Chelsea was refused by Internacional," Neto told Sky Sports News. "And I believe that it is difficult for Chelsea to make a counter-offer for the player.
"Right now, we are no longer in talks with Chelsea."
Oscar is part of the Brazilian squad that will compete at the Olympic Games in London later this month.