The Blues boss has admitted that he is keen to keep hold of Upson, who has been the subject of numerous media reports linking him with a move away from St Andrew's when the transfer window opens in January.
"I only spoke to Martin O'Neill a couple of weeks ago and he never mentioned Upson to me. Where that has come from, I don't know," Bruce has said.
"That is just a nonsense of a story and it is not definite that Upson will move at all in January.
"Why would we want to sell arguably our best player when we were top of the league?
"Of course, I have to protect our investment. Unless it is a ridiculous offer, and every player has got his price, nothing is happening."