Informal talks between an Israeli representative and Palestinian factions are underway in Cairo, according to RIA Novosti.

Speaking to Palestinian news agency Ma’an on Sunday, senior Palestine Liberation Organization official Nabil Shath said that a ceasefire "is not likely to take effect in the coming days because Israel is trying to impose its own stipulations ignoring the demands of Hamas and other Palestinian factions."

Turkey and Qatar are also playing major roles in the negotiations.

Ma’an reported that Israel warned a full-scale ground, naval and air operation in the Gaza strip would ensue within two to three days should the parties fail to reach agreement.

Minister Benjamin Netanyahu warned on Sunday Israeli forces were prepared to widen its Pillar of Defense operation in Gaza. Meanwhile, Israel has put 75,000 reservists on stand-by and troops and military equipment are massed near the Gaza border.

According to the agency, at least 73 Palestinians and three Israelis were killed since Israel launched the operation on Wednesday.