The Cable

(Reuters) Prime Minister Theresa May will trigger Britain's divorce proceedings with the European Union on March 29, launching two years of negotiations that will reshape the future of the country and Europe.

May's government said her permanent envoy to the EU had informed European Council President Donald Tusk of the date when Britain intends to invoke Article 50 of its Lisbon Treaty - the mechanism for starting its exit after a referendum last June in which Britons voted by a 52-48 percent margin to leave the bloc.

The EU said it was ready to begin the negotiations and within 48 hours of the trigger on March 29, Tusk will send the other 27 member states his draft negotiating guidelines, which means that talks could start in May.

Sterling fell half a cent against the dollar on what Brexit minister David Davis described as a move taking Britain to "the threshold of the most important negotiation for this country for a generation".

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