Prime Minister-designate Benjamin Netanyahu is expected to meet with President Shimon Peres on Sunday and ask him for a 14-day continuance in order to form the new government.
The move is apparently also aimed at giving Labor Chairman Ehud Barak a chance to present to the Labor committee on Tuesday his proposal to launch formal coalition negotiations with Likud.
According the Israeli statute, the original presidential mandate of 28 days, which expires on Friday, can be extended by up to a fortnight.
Netanyahu has spoken recently to a number of Labor members in an effort to convince them to support the party's participation in his burgeoning government.