Mancini was desperate to bring the striker to the Etihad, but faced stiff competition from Manchester United and Serie A giants Juventus.
Mancini has admitted his club is no longer in the race after it emerged that United boss Sir Alex Ferguson had stayed in Britain while his team were in Norway in a bid to force through a 20 million pound deal for Van Persie.
When asked about the Gunners star, the City boss said: "Van Persie? No, I don't think he will come here."
United now expect to get the coveted signature of last season's Premier League top goal scorer by the time the new campaign kicks off on August 19, The Daily Mail reports.