AC Milan have held talks with Chelsea over the transfer of Fernando Torres, according to Sky sources.
Mehdi Benatia has completed his move to Bayern Munich by signing a five-year contract after a successful medical.
Fiorentina have purchased half of winger Juan Cuadrado's playing rights from Udinese following a successful season on loan in Tuscany.
The 25-year-old Colombian originally joined La Viola on a year's loan for the 2012-13 Serie A season, in which he scored five goals and provided seven assists in 36 appearances, but the terms of the new financial agreement commit him to a second year at the Stadio Artemio Franchi.
A statement published on Fiorentina's official website read: "Fiorentina have activated the option to purchase, on a co-ownership basis, the playing rights of Juan Guillermo Cuadrado Bello of Udinese."
The versatile Cuadrado, who is equally comfortable playing as a defensive wing-back, originally joined Udinese from Independiente Medellin on a five-year contract in 2009 before spending the 2011-12 campaign on loan at Lecce.