"It would only be philosophical to talk about [Evans] as long as we do not have any agreement with anybody", he said.
The Gunners are likely to lose Alexis Sanchez to City this month, with Wenger admitting that they are powerless in the face of the Manchester club's money.
"If the decision comes to finances with Man City we know we will be second best". I'm focused on tomorrow's game.More news: Francis Lawrence's Red Sparrow Starring Jennifer Lawrence Gets New Trailer and Poster
"When solicitations happen you respond, at the moment it's very quiet".
Wenger also confirmed that midfielder Francis Coquelin could be sold this month. The former Charlton Athletic loanee has featured regularly in the Carabao Cup and Europa League but has made just one start in the Premier League this season, though he has made six appearances from the substitutes' bench.
"I think Arsenal have said that if the right player comes along they will be looking into it", Phelan told Sky Sports News on Monday.
Arsenal lost 4-2 to Championship side Nottingham Forest in the FA Cup third round on Sunday.
Evans, 26, is seen by Man City boss Pep Guardiola as a viable replacement for Vincent Kompany, who has yet to prove his long-term fitness at the Etihad, while Wenger believes the the West Brom man would be a valuable addition to his three-man defence.