"Let's wait and watch. BJP leaders may be feeling that return of Yeddyrappa to the party will be good for them. So let's see what course it may take in next four to five days," Yeddyurappa told reporters.
"I'm with an open mind regarding what is to be decided for the future," he added.
Queried whether he will decide on joining BJP in the next four to five days, he said, "Talks are on...Let's see which way it will head. I'm ready for any compromise for the welfare of the state and will fight for people's cause."
Soon after the conclusion of the recent assembly polls in five states, senior BJP leaders from Karnataka had met party chief Rajnath Singh and urged him to start the process of bringing Yeddyurappa back into the party fold.
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Yeddyurappa has supported Narendra Modi's candidature for Prime Ministership and also written to NDA Chairman L K Advani to take Karnataka Janatha Paksha into its fold.
Yeddyurappa, who quit the Chief Ministership in July 2011 over illegal mining bribery charges, deserted BJP last year and launched KJP.
His party, however, suffered a drubbing in the May Karnataka assembly elections and won only six seats.