At the official site they had this to say:
Angel, Argentina: "Is it true that Parma have signed Husain?"
Enrico Fedele and Fabrizio Larini: "We are certainly interested in him, but nothing is certain at this stage. For a start, Husain is not an EC player - and we have our full quota of non-EC footballers at present. Secondly, his game resembles that of Jorge Bolano, who has been a bit of a revelation recently. We are glad that he is here."
Basically what they are saying is this: Bolano has proven to be better than they thought and apparently they will continue with him rather than to sign Husain. I think it's the correct decision.