by business editor Trevor Sturgess

Speculation that cross-Channel ferry operator SeaFrance is for sale has been confirmed by an advert in a French business newspaper, according to reports.

SNCF, the French state railway that owns the operator, has placed the ad in Les Echos, inviting bids for the loss-making service, according to a report in the specialist freight weekly IFW.

It quotes the ad: "Within the framework of the disposal of its shareholdings in SeaFrance, a tender process has been launched, piloted by Credit Agricole Corporate & Investment Bank, to find a potential buyer for the cross-Channel ferry operator."

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SeaFrance is in administration and has announced massive cost-cutting measures, including the loss of some 700 jobs. A new working agreement is due to come into force today.

SNCF has pumped around £100m into the Dover-Calais operation to keep it afloat.

IFW quotes a union official saying: "While it's been known for some time that SNCF wants to sell SeaFrance, putting an advertisement in a newspaper gives the impression that it wants to wash its hands of the company as soon possible.

"This hardly sends out the right message to staff who have legitimate concerns on their future."

LD Lines, operator of the Dover-Boulogne service which ended last month, had been interested in buying SeaFrance but has since suspended talks.

Brittany Ferries has also shown interest.