Remember what ranieri said when asked after the bologna game if Gio is nedved's replacement and he said it clearlly "No". And you honestly think that we'll spend this summer's transfer money on a backup left winger ?
Well, Giovinco isn't a "new Nedved" or a strict left wide midfielder for sure and Malouda wouldn't have been his direct substitute in my opinion. Ranieri could use Gio in a more advanced role, a wing-forward in 4-3-3 maybe and Malouda, who provides more physical presence in the midfield, as an option when he wanted to go back to 4-4-2 system. I think he'll be more willing to use Giovinco after matches against Chelsea and Bologna, at least at home matches.
And no, I dont't think we'll spend this summer transfer money on a backup left winger, I even stated it's unlikely we'll buy him, so may you stop imputing me things?