Milan paid Porto an initial 38 million euros for Silva, with a variable component that could see the fee rise by an additional two million euros, the Portuguese club said in a statement. (http://bit.ly/2rmUAAY)
Milan finished sixth in Serie A last season, earning a place in next season's Europa League qualifiers and ending a three-season absence from European competition.
(Reporting by Simon Jennings in Bengaluru; Editing by Clare Fallon)
