The Blues had finally landed a deal for the Colombian on Thursday, agreeing to pay €33 million for the attacker, just shy of his buyout clause.
And Montella, who was alleged to be ready to walk out on the Viola should they sell Cuadrado, has now revealed that the 26-year-old will move to Stamford Bridge - but is excited by the potential of his replacement, Salah.
"Obviously as a coach I'm sorry for Cuadrado's transfer but Fiorentina have done the right thing. If Juan has cost so much it is because he's worth it, meanwhile Salah comes to us," the Fiorentina boss told reporters.
"We'll see how long it will take for Salah to be integrated. Technically he's similar to Cuadrado but he cannot do the defensive side, though he is still a great player."
Salah is expected to join Fiorentina on an 18-month loan deal while another attacker, Andre Schurrle, is closing in on a move back to the Bundesliga with Wolfsburg.
Cuadrado is thought to have already said his goodbyes to his Fiorentina team-mates and agreed personal terms with the Blues, but his signing will come too late to play any part in Chelsea's top-of-the-table clash against Manchester City on Saturday.
