Inter Milan could send Italy striker Antonio Cassano to Parma as part of a swap deal for Ishak Belfodil.
Torino have signed Swedish midfielder Alexander Farnerud from Young Boys for an undisclosed fee.
It has been reported that Bolton Wanderers have won the race to sign England Under-21 defender Craig Dawson.
The 22-year-old stopper has not featured much at West Brom since Steve Clarke too charge, but the Baggies boss is a fan of the player and has ruled out a permanent deal.
West Brom opted for a loan deal, which subsequently attracted interest from nearly a dozen Championship clubs.
But it is understood that Dawson is set to finalise a switch to the Reebok Stadium before this weekend's FA Cup clash with Everton - but he would not be eligible as he is already cup-tied.