A report in a Chinese newspaper today indicates that Facebook may be looking to acquire social networking site Zhanzuo.com. A very rough translation using Google Translate indicates that Zhanzuo has turned down an offer in the $85-100 million range.
MySpace already has a Chinese version up and running, while Facebook clone Xiaonei.com was acquired by an investment group and according to Alexa is already the 42nd most popular site in China. Acquiring Zhanzuo (which also appears to be one of the top social networking services in China according to Alexa) would allow Facebook to make a quick splash in the Chinese market, which is a tougher nut to crack than rolling out localized sites in Western Europe.
Facebook has already announced a London office as part of its international expansion, and plans to offer the service in other languages have been previously rumored.