The 37-year-old defender was believed to have been offered a wages in the region of 3 million pounds ($3.9 million) for a one-year deal.
Ostersunds beat Arsenal 2-1 in the 2nd leg but Sead Kolasinac's goal just after the interval saw the London club hang on for a 4-2 win on aggregate.
Cristiano Ronaldo scored twice on his 400th Real Madrid appearance as the Champions League holders defeated Borussia Dortmund 3-1, while Harry Kane grabbed a hat-trick in Tottenham Hotspur's 3-0 win at APOEL Nicosia on Tuesday.
Spartak Moscow are promising a "unique" display from the stands ahead of the Champions League clash with Barcelona.
Humbled by Celtic in the latest shock result in the Champions League, Barcelona travel to Russia this week as the competition favorites attempt for the second time to seal a place in the knockout stage.
Oscar Cardozo bagged a brace as Benfica beat Spartak Moscow 2-0 in the Champions League, but both teams' chances of qualifying for the knockouts remain remote.
Spartak Moscow are not going to sign Liverpool's Joe Cole, the Russian club's owner Leonid Fedun has said.
Russian side Spartak Moscow gained their first win of this season's Champions League campaign after losing their first two matches with a hard fought 2-1 win over Portuguese opponents Benfica here on Tuesday.
Australian skipper Michael Clarke, who scored an unbeaten triple century against India in the second Test at SCG, is poised to pocket more than USD one million from a new bat sponsor.