Australia, New Zealand and South Africa currently play an annual competition on a home and away basis.

O'Neill is keen to see the competition expanded to increase interest among television viewers and has targeted the top two teams in the northern hemisphere.

O'Neill told the Sydney Morning Herald: "The possibility always exists for the Tri-Nations to turn into a Five Nations tournament.

"France and England would obviously be the two major contenders.

"It is great when you have the British Lions around, like this season, but that only comes along once every 12 years.

O'Neill's view is also shared by former South Africa coach Nick Mallett.

He wrote on his website: "A competition involving the SANZAR teams, England and France would be quite something and might improve on the repetitiveness of the Tri-Nations.

"I've no doubt that England and France are right up there with the southern hemisphere SANZAR teams."

However, Mallett was less complimentary about the remaining Six Nations sides.

He added: "Wales, Scotland, Ireland and little Italy are somewhere behind, with no more than a 20 per cent chance of winning against the top five."

O'Neill would also like to see the Super 12 competition expanded to a global event comprising 20 teams.

Reaction to the news from England suggested the idea was a non-starter, with former second row Wade Dooley playing down the idea.

"The Australians and All Blacks have been jealous for many years about what we have got here.

"They see it and want the same, but I wouldn't want it if it detracted from what we have here," Dooley said.

The former Preston Grasshoppers star agreed that England and France would probably have to opt either to stay in the Six Nations or join the Tri-nations if the proposals were ever accepted.

In an already congested fixture list, "something would have to give" according to Dooley.