Reports in the national press suggested that the Ghana midfielder, signed for ?7million from Udinese this summer, was being monitored by Reds boss Rafa Benitez.
But Redknapp insists the speculation is completely without foundation and has slammed the articles as "absolute rubbish", according to the Portsmouth News.
Benitez was believed to be considering a move for Muntari if he was unable to strike a long-term deal for Argentina international Javier Mascherano.