The France international has been touted as a potential mover in each of the last few transfer windows, but no deal has been put in place.
It is, however, looking increasingly likely that January 2013 will see him head for pastures new.
The highly-rated midfielder is eager to take on a new challenge and Rennes have reluctantly conceded that it would be in their best interests to part with a player who has suffered a dip in form amid intense transfer talk.
"Yes, he feels like leaving," Rennes general manager Pierre Dreossi admitted to Maxifoot.
"But it is not a priority for us to sell. If he has to leave, he will leave. But if it is not worth it for him or for us, he will stay until the end of the season.
"It is all moving towards England or Russia."
M'Vila is said to have attracted interest from the likes of Arsenal, Tottenham, Queens Park Rangers and Zenit St Petersburg, and he admits that bids have been tabled.
He said: "The club have received offers.
"I want to go but the deal has to be right for everyone. If it isn't, I will stay until the end of the season."