ROME, May 31 (Xinhua) -- Two Italian populist parties succeeded in a last-minute attempt to form a coalition government on Thursday, according to local media.

Anti-establishment Five Star Movement (M5S) and far-right League -- the two most-voted parties in March inconclusive elections -- reached a deal on a new cabinet line-up after their leaders met in Rome, Ansa news agency reported citing party officials.

Professor Law Giuseppe Conte would be confirmed as their proposed prime minister, as the two parties had previously already decided.

They would also submit economist Giovanni Tria -- a 69-year professor of Political Economy at the University of Rome Tor Vergata -- as finance minister, Ansa added.

A previous bid by the two parties to form a coalition government collapsed last week, after president Sergio Mattarella refused to accept a Euroskeptic economist Paolo Savona at the treasury.

The leaders of the two forces, M5S' Luigi Di Maio and League's Matteo Salvini, had refused to change their line-up, and abandoned consultations with the head of state.

Following their refusal, Mattarella appointed economist Carlo Cottarelli as Prime Minister-designate, tasking him with forming a technocrat cabinet to lead the country to snap elections.

Considering the lastest developments, Cottarelli could now drop his mandate in order for the Five Star and the League to unveil their line-up to president Mattarella, and eventually receive his approval.