Brittany Ferries is reported to have formally made an offer to buy Condor.
The company's President, Jean-Marc Roué, told Ouest-France an offer had been filed.
He expects they won't be the only ones bidding for the Channel Islands operator, telling the French newspaper:
"It is done... but presumably, we will not be all alone."
Mr Roué hasn't revealed the amount offered to buy Condor Ferries from its current owners, the Macquarie Group.
A proposed takeover was first rumoured back in June but hadn't been confirmed until earlier this month.