Michelin are "50/50" as to whether or not they will apply to become F1's tyre supplier in 2017.
At present Pirelli are the sport's sole tyre supplier, however, the Italian manufacturer's deal expires at the end of 2016.
The FIA have opened a tyre tender and reports have suggested that Michelin could be interested.
For now, though, the French company has yet to decide.
"We are giving ourselves a few days to decide but as we stand now it is at least 50/50," Michelin competitions director Pascal Couasnon told Motorsport.com.
"We have our ideas and we have talked about these ideas and we want to give the possibility to the teams to apply them well, so I would say that in the next few days we will finally decide and next week we will know what is happening."
As for Michelin's recent statements that it would only enter F1 is the sport swapped to wider tyres, Couasnon added: "It is clear that Michelin is open and willing to discuss things like this (the current diameter tyre) but we believe it would not make sense in respecting the tyre so it will be extremely difficult for us."