The magazine described the improvement in Schumacher’s condition as a “Christmas miracle”.
But Ms Kehm, the driver’s manager who has acted as a spokesman for the family since his accident, quickly denied the report.
“Unfortunately, we are forced by a recent press report to clarify that the assertion that Michael could move again is not true,” Ms Kehm said.
“Such speculation is irresponsible, because given the seriousness of his injuries, Michael’s privacy is very important for him. Unfortunately they also give false hopes to many people involved.”
Michael Schumacher suffered a traumatic brain injury after he fell and hit his head on a rock despite wearing a ski helmet Photo: REUTERS Bunte magazine said it was standing by the accuracy of its report.
Schumacher, a seven-time Formula 1 world champion who is widely regarded as one of the greatest racing drivers of all time, was injured while skiing off-piste with his 14-year-old son in December 2013.
The German suffered a traumatic brain injury after he fell and hit his head on a rock, despite wearing a ski helmet which probably saved his life.
He was rushed to hospital and put into a medically induced coma for four months.
Schumacher’s injury attracted an extraordinary level of media interest, and his family had great difficulty protecting his privacy.
A journalist tried to gain access to his bedside disguised as a priest. His medical records were stolen and offered for sale, and the main suspect in the theft was later found hanged in his cell.
The driver emerged from his coma in April 2014, and returned to continue his recovery at his home in Switzerland that September.
Michael Schumacher suffered his life-threatening accident in 2013 Photo: EPA According to earlier reports he is paralysed and confined to a wheelchair, has memory problems and cannot speak.
In May, Ms Kehm said his condition was slowly improving “considering the severity of his injury”.