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.
The 23-year-old has signed a deal with the Wolves until June 2018.
"We are delighted that Sebastian Jung has chosen to sign for VfL. He is a player with masses of sporting potential, who can really strengthen our team," Wolfsburg sporting director Klaus Allofs said on their official website.