Benjamin Netanyahu is locked in fierce negotiations with his chief rival to break a crippling political deadlock after the final results of a fraught election last week showed that no side had won an outright majority of the parliament.

The prime minister, who is fighting for his political survival, is due to meet arch-rival and former army chief Benny Gantz Wednesday afternoon to discuss a power sharing deal, shortly after the results of the talks are officially presented to Israeli president Reuven Rivlin.

Mr Rivlin has yet to officially task a winner with forming the next government and instead is battling to get both sides to form a unity coalition. He hopes a slew of meetings this week will break the impasse that could otherwise last months and see a third election in less than a year.

The final results, released overnight by the elections commissions to Israeli media, showed Mr Gantz’s centrist Blue and White Party swept 33 of the Knesset’s 120 seats, Mr Netanyahu’s right-wing Likud won 32, while in third was the Arab Joint List with 13.

Despite capturing the most seats, Blue and White was only able to secure the backing of 54 lawmakers in total, while Mr Netanyahu secured 55. Both are short of the 61-seat majority required to rule leading to the stalemate.

Israel election 2019: Netanyahu battles to hang on to power Show all 20 1 /20 Israel election 2019: Netanyahu battles to hang on to power Israel election 2019: Netanyahu battles to hang on to power An Israeli man holding his dog casts his ballot EPA Israel election 2019: Netanyahu battles to hang on to power Chief Rabbi of the Vizhnitz (Hasidic Dynasty) Israel Hager (left), casts his ballot AFP/Getty Israel election 2019: Netanyahu battles to hang on to power Israeli Prime Minister Benjamin Netanyahu and his wife Sara casts their votes AFP/Getty Israel election 2019: Netanyahu battles to hang on to power A man takes a selfie with his mobile phone as he casts his ballot Reuters Israel election 2019: Netanyahu battles to hang on to power An Arab Israeli woman votes during Israel's parliamentary election at a polling station in Kafr Manda near Haifa on September 17, 2019. (Photo by Ahmad GHARABLI / AFP)AHMAD GHARABLI/AFP/Getty Images AHMAD GHARABLI AFP/Getty Israel election 2019: Netanyahu battles to hang on to power Israel's former defence minister Avigdor Lieberman and his wife Ella cast their ballots AFP/Getty Israel election 2019: Netanyahu battles to hang on to power Israeli children accompany their father during Israel's parliamentary election at a polling station AFP/Getty Israel election 2019: Netanyahu battles to hang on to power Blue and White party leader Benny Gantz and his wife Revital vote AP Israel election 2019: Netanyahu battles to hang on to power Israeli Prime Minister Benjamin prepares to vote AP Israel election 2019: Netanyahu battles to hang on to power A family votes in the settlement of Tekoa AP Israel election 2019: Netanyahu battles to hang on to power Ballots lies on a table AFP/Getty Israel election 2019: Netanyahu battles to hang on to power Israel's former justice minister Ayelet greets supporters after casting her ballot AFP/Getty Israel election 2019: Netanyahu battles to hang on to power An elderly ultra-Orthodox Jewish man casts his ballot at a voting station in the city of Bnei Brak during the Israeli parliamentary election on September 17, 2019. (Photo by Menahem KAHANA / AFP)MENAHEM KAHANA/AFP/Getty Images MENAHEM KAHANA AFP/Getty Israel election 2019: Netanyahu battles to hang on to power A mother takes a photograph of her daughter near a ballot box Reuters Israel election 2019: Netanyahu battles to hang on to power Children stand with their relative as they place his vote in a ballot box Reuters Israel election 2019: Netanyahu battles to hang on to power A woman holds her dog's leash as she prepares to vote Reuters Israel election 2019: Netanyahu battles to hang on to power An ultra Orthodox Jewish man casts his ballot during Israel's parliamentary election, at a polling station in Rosh Haayin, on September 17, 2019. (Photo by Jack GUEZ / AFP)JACK GUEZ/AFP/Getty Images JACK GUEZ AFP/Getty Israel election 2019: Netanyahu battles to hang on to power An Israeli woman casts her ballot during Israel's parliamentary election at a polling station in Tel Aviv on September 17, 2019. (Photo by GIL COHEN-MAGEN / AFP)GIL COHEN-MAGEN/AFP/Getty Images GIL COHEN-MAGEN AFP/Getty Israel election 2019: Netanyahu battles to hang on to power Israel's head of the Joint List alliance Ayman Odeh casts his ballot accompanied by his family AFP/Getty Israel election 2019: Netanyahu battles to hang on to power epa07847854 Ultra-Orthodox Jews register at polling station during the Israeli legislative elections, in Jerusalem, Israel, 17 September 2019. Israelis are heading to the polls for a second general election, following the prior elections in April 2019, to elect the 120 members of the 22nd Knesset, or parliament. According to the Israel Central Bureau of Statistics, about six million people are eligible to vote. EPA/ABIR SULTAN ABIR SULTAN EPA

Mr Rivlin, who vowed to prevent a record third election, told both men on Tuesday: “The main challenge is building a direct channel of communication out of trust between the two sides.”

“People expect you to find a solution and to prevent further elections, even if it comes at a personal and even ideological cost,” he added.

Many believe the only way out of the political stalemate is a unity deal between the two largest parties with a rotating leadership.

Both Netanyahu and Gantz have expressed support for the idea but have deep disagreements over its agenda and who should lead it.

Blue and White’s leaders have refused to join forces with Likud while Mr Netanyahu remains leader, since he is facing likely indictment in three corruption cases next month. He will attend a pre-trial hearing on 2 October.

Mr Netanyahu, accused by critics of seeking protection from prosecution, believes he should remain as prime minister and has signed a deal with his smaller allies, including ultra-Orthodox parties.

The prime minister votes with his wife Sara in Jerusalem (Benjamin Netanyahu’s office/Twitter) (Benjamin Netanyahu's office (Twitter))

And so, his party has rejected a demand by Avigdor Lieberman, Mr Netanyahu’s ex-defence minister and head of the ultranationalist Yisrael Beiteinu party, to form a broad, secular unity government that excludes his religious allies.

​The former Netanyahu ally, who is dubbed the “kingmaker”, forced the 17 September repeat vote by refusing to join Mr Netanyahu’s coalition, thereby robbing him of his parliamentary majority.

Mr Lieberman secured eight seats this time around and could have been the deciding factor for both sides, but has refused to pledge his seats to either party.

On Tuesday evening Mr Gantz said his party was still “working towards a broad and liberal unity government that will represent all of Israeli society”, but added that there was a “long road ahead”.

“Blue and White has gone into negotiations with Likud with an open mind and heart. That said, it is important that everyone understands that we will not relinquish our principles or our partners,” he added.

A joint statement released by both Likud and Blue and White said talks had so far been “matter-of-fact and held in good spirits” and they would continue negotiations.

Israeli left-wing paper Haaretz wrote that both sides are so entrenched in their positions “no Israeli president has ever faced the challenge now confronting Rivlin”.

Columnist Nahum Barnea in the Yediot Ahronot daily wrote that it is going to be “downright impossible” to form a government based on the two larger parties.