The frontman has been heavily linked with a move to the Reds with L'Equipe recently reporting they had already tabled a £70m bid.
Pepe, also wanted by Manchester United and Arsenal , enjoyed a stunning season in Ligue 1, bagging 22 goals as Lille finished second behind Paris Saint-Germain.
It has led for a scramble for his signature Liverpool looked set to win - but the Echo claim those reports are incorrect and no talks have been held with either Lille or Pepe's representatives at this stage.
The departure of Daniel Sturridge means Jurgen Klopp is keen to add a versatile attacker who can operate across their front three.
But with Klopp not looking to spend huge amounts of money, Pepe is said to not be on their radar as he looks to simply tweak his Champions League winning squad.
Pepe could still make a move to the Premier League, although Arsenal are likely to be priced out of a move after missing out on Champions League football whilst Manchester United could be out of the running after landing Swansea winger Daniel James.
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