The 38-year-old had been heavily linked with the German club with Xabi Alonso set to take over from Carlo Ancelotti at Real Madrid.
Fabregas opted to remain with Como, however, having impressed with the Italians, taking them to tenth with 48 points with two Serie A games remaining.
Speaking at his pre-match press conference, Fabregas said: "I talked to the club, we made progress, I am happy here. I want to understand if everyone wants to continue like this and they are all aligned with my ideas. I also spoke to other clubs, I am respectful and speak to everyone.
“There is to be an official announcement. I am happy, we all need to be on the same page to continue together.”