Fofana was in Birmingham this week with Villa hoping to complete a deal with Le Havre worth around £800,000, but the move has been put on ice for now.
Villa manager Gerard Houllier said: "The Fofana deal is not done and I doubt it will be done.
"For the moment, an agreement has not been reached. He's got potential. He's a 19-year-old player, very mature, with a strong personality.
"He was captain of the France side that won the European Under-19 Championships.
"But I've also young players here already and you've got to have a balance in terms of wages and abilities. It's more likely not to happen."
Source: PA
Source: PA