"I think it is just all paper talk," He told Sky Sports.
"Alan is happy at Rangers and he only signed a new deal in the summer.
"We have not even discussed the speculation as Alan is focusing on things at Rangers.
"At the minute big games are coming thick and fast for Alan and he is enjoying playing in them."
Nicolas Anelka has also played down the speculation he may leave Notlob in January.
"It's just talk as far as I'm concerned, and there is always talk in football.
"But I didn't want to because I want to do something with this club. I love the fans and I love the club.
"Bolton helped me come back to England — which I wanted to do — and I won't forget that."