Christian Horner's return to Formula One has been delayed after the Renault Group, which oversees Alpine, stated there are currently "no discussions" with the former Red Bull team principal.
Horner is looking for a way back to the paddock since being sacked by Red Bull after the British Grand Prix last year.
Alpine said Horner was among a group of investors interested in acquiring Otro Capital's 24 per cent shareholding in the team.
Renault owns the remainder of the racing team.
Renault Group CEO Francois Provost said: "There is no discussion today with Christian.
"We are assessing the options. I want the Renault Group to keep the control of our team, whoever could be the successor of Otro.
"I saw there are no further discussions [with Mercedes] now. I was not so satisfied to see that we are not progressing.
"But I would like to make two comments about this. The first one is that this Otro issue doesn't impact us at all as a team because we are in control.
Christian Horner's return to the F1 paddock has been delayed
| GETTYLATEST SPORTS NEWS
"And the second point, is that we will keep the control of our Formula One team. Alpine is an independent team and we intend to keep control."
Horner previously said he has "unfinished business" in the sport.
He has been linked to Aston Martin and Chinese automaker BYD to possibly lead a 12th team on the F1 grid.
Mercedes team principal Toto Wolff stated his rival's comeback might be affected by the "repercussions" of "having broken a lot of glass" during his 20 years in F1.
Christian Horner previously said he has 'unfinished business' in the sport
| GETTYRenault has the power to veto the sale of Otro's shares and is believed to oppose Horner's involvement.
When asked about this, Provost said: "Today, there is no discussion."
Alpine finished last season at the bottom of the constructors' championship but currently sits fifth this year.
They narrowly missed out on a podium finish for Frenchman Pierre Gasly at the Monaco Grand Prix after their driver was given two penalties demoting him down the pecking order.
The former Red Bull boss was sacked by team last year
| PANext season, they will be rebranded as Gucci Racing Alpine Formula One Team after a lucrative partnership with the renowned Italian fashion brand.
Provost added: "It is a unique and historic partnership; the first time a top, top luxury brand becomes the title sponsor of a Formula One team.
"I see on one side excellence in luxury with a top brand, and on the other side, excellence in automotive technology with Alpine and the Renault Group. I see huge potential from next season."
Our Standards: The GB News Editorial Charter