Updated: Facebook PR writes in to us and says the Times UK report is false, and says: “no offer has been made and no acquisition in China is being considered by Facebook.” That sets the record straight…

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Original post: Facebook has offered $85 million for college social network Zhanzuo, buying its way in to the lucrative Chinese market, Britain’s The Times reports, without attributing a source. On the record, Facebook only said Zhanzuo CEO Jack Zhang and Facebook founder Mark Zuckerberg “were acquainted but this did not mean that they intended to reach a deal”: “There could be more information by the end of the month”....in another story, an “unnamed insider” tells Sina (NSDQ: SINA) (via PacificEpoch) Zhanzuo will, in fact, take second-round funding of $7.2 million at the end of the month - the round involving first-round backer Sequoia. So all very speculative so far.