Falcao, who is captain of his national team at the tournament in Chile, has left Manchester United after a disappointing season on loan from Monaco.
British media reported on Tuesday that Chelsea were on the verge of agreeing terms with the striker for a season-long loan deal.
Cuadrado surprised reporters at a news conference, saying: “It’s important to have a team mate like him at the club but now I’m concentrating on the Copa America and will talk about it later.”
“Say you’re happy,” coach Jose Pekerman, who was beside Cuadrado, said to him, then added: “I’m sure they’ll help each other mutually and do good things.”
United have said they will not use their option to buy Falcao from Monaco.
The striker, who scored four goals in 29 matches for United, joined the Premier League club a year ago after missing the World Cup in Brazil following knee ligament surgery in January 2014.
Colombia, who were upset 1-0 by Venezuela in their opening Group C match on Sunday, clash with Brazil, who beat Peru 2-1.
(Reporting by Camila Ramirez; Writing by Rex Gowar; Editing by Ian Ransom)
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