The Financial Times newspaper today cited a memo of Davis' meeting with the City of London Corporation, which runs the British capital's financial district.
It quotes Davis as saying he'd consider a transitional deal to "be kind" if the EU sought one.
The newspaper reports Davis as saying it's unlikely Britain will remain in the EU's single market.
The Department for Exiting the European Union says the document does not "properly reflect" Davis' views.
Disclaimer: No Business Standard Journalist was involved in creation of this content