The article said he played for a top-flight club in Portugual, but it wasn't one of the big three. Transfer fee wasn't that much so I guess this is a wait-and-see signing.
Jez is quoted in an interview on Wolves official site as saying that most English-based players are "too expensive" to purchase now, and wouldn't be purchased until prices come down.
Guess that ends all those "Bergkamp-to-Wolves" rumors, no?