Spurs’ hopes of enticing Mauricio Pochettino back from Paris St-Germain were thwarted, as the former Chelsea manager, 51, appeared destined to succeed Jose Mourinho.
However, talks have come to a standstill, and BBC Sport believes that they are unlikely to resume.
According to reports from Italy, Conte was beginning to have reservations about the transfer money he was expected to get.
Tottenham, on the other hand, was concerned.
Pochettino has a reputation for signing ready-made talents, but Tottenham’s reputation has been built via growth and team building under chairman Daniel Levy, as it was under Pochettino.
After dismissing Mourinho over seven weeks ago, Tottenham is still hunting for a new manager.
The post has also been connected to Julian Nagelsmann and Brendan Rodgers. Rodgers has confirmed his commitment to Leicester City, while Nagelsmann has joined Bayern Munich.