Micheál Martin throws in the towel in bid to be elected next Taoiseach

Update 10.05pmFianna Fáil has agreed to reconvene talks with Fine Gael on the formation of a minority Government.

In a statement tonight a spokesperson Fianna Fáil commented: "Tonight's meeting of the Fianna Fáil Parliamentary Party agreed that its negotiating team will reconvene talks with Fine Gael with a view to facilitating the establishment of a Fine Gael-led minority Government."

Earlier: Fianna Fáil's conceded defeat in their efforts to form a minority government.

Micheál Martin and Enda Kenny

Read More:

It marks the third time the house has voted on the matter.

Fianna Fáil has now said it will not put Mr Martin forward for the position for a fourth time.

The acting Taoiseach has said there now needs to be "a sense of urgency" in dealing with the issue, seven weeks after the General Election.