Relegation-threatened Montpellier are reluctant to sell this month, and the 23-year-old has previously indicated he was keen to see out the season at the Stade de la Mosson.
The Ligue 1 club are looking for a fee well in excess of the £12m that has been mooted, and much depends on the willingness of Mike Ashley to strengthen the squad when the club is in no danger of relegation from the Premier League.
Montpellier coach Rolland Courbis claimed Newcastle was “not a big club and I wouldn't spend a week in Newcastle".
Rolland Courbis: “Louis Nicollin, Remy and his family will decide what is best.
“With the amounts currently being discussed, I think Louis is a good enough trader to make the right choice.
“I do not think that Remy Cabella can be transferred for this amount when compared to the ridiculous numbers discussed for (Yohan) Cabaye.
“It would mean that Louis is mad. I meet with him every day and that is not the case.”
Cabella, a France Under-21 international, told French journalists after the match he had been banned from speaking to the media because of the ongoing situation.