The attacker has reportedly been to visit Liverpool twice this week.
However, Montanier has rubbished the claims.
He is quoted by Sport.fr as stating:
"This is a rumor and it is false.
"Concerning Tuesday and Thursday, we know where he was. Not in an airport or on a plane.
"I have great admiration for Liverpool and when such a club is interested in a player it does not lower itself by doing things like that. You just call the club concerned."
Ntep has been in fantastic form for Rennes recently. The 22-year-old, who was linked with QPR and Arsenal last year, joined the club from Auxerre in January 2014 and has had a great year in Brittany.
He has scored 14 goals in 44 appearances for the club since his arrival and he is certainly one of the hottest talents in France - with nine goals in 15 appearances for the French under-21 international set-up.
In a week where Liverpool clearly lost out in their interest for Memphis Depay, who is joining Manchester United in the summer, Liverpool would have hoped the link with Ntep was genuine.
However, Rennes seem adamant that he is going nowhere in the summer.