The little playmaker was one of France's most impressive performers in Brazil as France reached the quarter-finals.
The transfer was reported as a done deal by Itar-Tess – one of the main Russian state agencies - who Eurosport Russia inform us are usually reliable.
However, Marseille news site Le Phoceen contacted the player's agent Jean-Pierre Bernes who described the report of an agreement as "bulls***".
Valbuena, 29, has been with Marseille since 2006 and helped them win the Ligue 1 title in 2010.
However, there have been reports that he has been deemed surplus to requirements under new coach Marcelo Bielsa who is famed for his exacting standards.
Dynamo are currently in Austria preparing for the start of the Russian Premier League season which begins on August 1.
They finished fourth in the Russian League last season and will enter the Europa League at the third qualifying round.
- Sports & Recreation