Mancini and Balotelli were involved in a heated confrontation at Carrington on Thursday that was captured by photographers, with the two men having to be pulled apart after grappling with each other.
Balotelli had kicked Scott Sinclair during a training exercise and then refused to leave the pitch when instructed to by Mancini, who then grabbed the Italy international's bib and top.
Despite suggestions that Balotelli's future at City could now be in doubt following another indiscretion from the controversial forward, Mancini played down the incident in his weekly press conference on Friday.
"We were playing a game and Mario kicked his team-mate," said Mancini. "I said to him go inside and leave the pitch. I take his shirt and push him out of the pitch.
"I think the photos show the worst of what happened. It was nothing special. There was no fight, this was not true.
"It wasn't like the bad things in the newspaper. It wasn't as bad as it looks. These things happen – usually between players – but my thoughts don't change anything."
When asked if the incident would result in the club taking disciplinary action against Balotelli, he replied: "No, no, no. This doesn't change anything. It is a thing that can happen."
As to whether Balotelli could be sold in January, Mancini was adamant he would be remaining, adding: "No, this doesn't change my thoughts about him."
The City boss, who is preparing for an FA Cup tie against Watford this weekend, did admit that he lost his temper with Balotelli for "two seconds."