Hearsay within the rumour mill had hinted that Arsenal were close to confirming a deal for the youngster, but the Saints were quick to quash any ideas that a deal is in the offing.
Oxlade-Chamberlain, son of former England international Mark Chamberlain, will only be sold for the right price as it is felt he is an integral part of Adkins’ team.
With a fee of £8 million being touted, Southampton’s hand may eventually be forced. However, Adkins confirmed that there are no current talks taking place for the winger.
"Alex is in doing fitness tests today. Until there is a bid on the table there is nothing to talk about."
Southampton may also be eager to hold on to Oxlade-Chamberlain after regrettably allowing Theo Walcott to leave the club for the Gunners in 2006.
Oxlade Chamberlain, 17, has featured in 36 games for Southampton, scoring 10 goals in the process.
