Manchester City’s new manager Manuel Pellegrini has told reporters that City are not finished yet in the transfer market, but refused to give any hints as to the possibility of signing Pepe from Real Madrid.

So far City have been one of the busiest clubs in the transfer market following their second place finish to cross town rivals Manchester United already spending £80 million on new players with Fernandinho, Jesus Navas, Alvaro Negredo and Stevan Jovetic all signing up to play at the Etihad next season.

“The club has spent money on important players, like Stevan and Negredo,” said Pellegrini.

“But we must remind you that last year there was Balotelli and Tevez, so we had to replace two very good players with another two very good players.

“So, we have the month of July and some days of August to finish the squad completely. It’s not absolutely complete, but it’s very near to being complete.”

Pepe was one of the names that came up but the Chilean did not want to talk about specific players while briefing the press in Hong Kong where City is playing in the Barclays Asia Trophy:

“I don’t speak about rumors. I think today we have the players we need here.

“I just said that we will see what happens in this month and during August.

“I’m not talking about specific names because it’s not better for us, so I don’t talk about Pepe or any other names.”