Royals Coach Wally Downes had watched City's top scorer play for Malta in Greece on Saturday but Steve Coppell denied any interest.
He told the Reading Evening Post: He (Downes) wasn't there for a short break!
"We were looking at somebody - but it wasn't Michael Mifsud. We were aware of him in the summer when he was a free agent, so why would I pay £5m for him now? "But we never comment on potential transfer targets."
Michael Mifsud will be playing for Malta tonight against Norway in Valletta.