Turkish Prime Minister Ahmet Davutoglu has returned a mandate to form a new government after possible coalition talks with two main parties collapsed.

Davutoglu handed back the mandate Tuesday during a meeting with President Recep Tayyip Erdogan.

It was not known if Erdogan, who reportedly favors a new election, would give another party leader the chance to try to form a new government. The deadline for a new government runs out at week's end. Erdogan is widely expected to call a new election and appoint an interim government.

The ruling party, which Erdogan founded, lost its parliamentary majority in the June election. Its current leader, Davutoglu, last week failed to form an alliance with Turkey's pro-secular party. Talks with the country's nationalist party collapsed Monday.