The new deal will keep the 20-year-old at Rennes until the summer of 2015. The midfielder’s previous deal was due to expire in 2014.
Real Madrid, Manchester United and French side Marseille have all been linked with the youngster in recent months.
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Since Guus Hiddink arrived at the helm, Chelsea have improved considerably after a tricky start to the campaign.
Newcastle United are staring down the barrel of relegation to the Championship for the second time in the past eight years.