The Switzerland international has since signed for Inter on loan, with a proposed €15 million transfer set to take place in the summer.
Liverpool were being heavily linked with the former FC Basel ace when it became clear that he would be available in January, but it appears that Shaqiri only had eyes for the Stadio Giuseppe Meazza club.
When asked why he refused an offer of €20 million from Liverpool for the 23-year-old, Rummenigge stated that it was due to the player’s preference to move to the Serie A club.
"I don't owe explanations to anyone,” inter.it confirm the former Germany international as saying.
"But if you really want to know, it's very simple: the boy only wanted to join Inter and it was the same for us. End of story.
“I also refused offers from half the continent back in the day so I could join Inter. Inter are Inter.”
Shaqiri joins Lukas Podolski at Inter as Roberto Mancini looks to fire the historic club up the table in his second tenure as head coach, with the side currently stranded in mid-table in 10th place.
Shaqiri will be keen to get regular football in Serie A having only started three Bundesliga games this season for Pep Guardiola’s men after impressing in the World Cup in the summer.