Spain's incumbent conservative Prime Minister Mariano Rajoy turned down an offer Friday by King Felipe VI to try to form a new government following last month's inconclusive elections, ABC News quoted the Royal Palace as saying.

The palace announced the decision shortly after the monarch met with Rajoy to wrap up a week of talks with party leaders before nominating a candidate.

In a statement, the palace said the king will begin fresh talks with party leaders next Wednesday in a bid to find another candidate.

Rajoy's Popular Party won most seats — 123 — in the December 20 election but failed to garner a majority in the 350-seat lower house of Parliament.

The king will now most likely call on opposition Socialist party leader Pedro Sanchez to try to from a government. The Socialists came second in the election with 90 seats and appear to have more chances of mustering support from other groups in Parliament to form a coalition.

The nominated candidate must win a vote of confidence in Parliament. If no party leader manages to win Parliament support within two months of the first vote, fresh elections must be called.

No group had expressed any intention of voting for Rajoy, which made parliamentary approval for him highly unlikely.

Source: MENA