Madonna and Guy agree divorce deal

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Marie Claire News: Cannes Film Festival 2008

Madonna and Guy Ritchie have reportedly agreed a divorce settlement, but Guy has not accepted any of the pop icon's money.

Instead of a cash pay-off, Guy has insisted on sharing custody of the couple's children, says The Evening Standard.

The British film director and Madonna have two sons; Rocco, 8, and adopted David, 3. Madonna has a daughter, Lourdes, 12, from a previous relationship.

The boys will now split their time between Guy, 40, in London and Madonna, 50, in New York.

The Evening Standard claims that the couple will make an announcement about their divorce at the end of the month, although no financial details will be disclosed.

The deal means Madonna gets to keep her £300m fortune, even though Guy – worth £20m – was entitled to half her wealth.

A source told the paper, 'It will be all over by the end of the month. I am sure it will be announced by then. The priority for him has always been the children. Ritchie has not wanted her money.

'He has done exactly what Billie Piper did when she divorced Chris Evans. She walked away without any of his money, much to her credit. Guy Ritchie has done the same.'

The couple announced their separation last month after eight years of marriage. They were introduced by the singer Sting and his wife Trudie Styler in 1998.

Madonna is currently in the middle of her Sticky and Sweet world tour, while Guy is filming blockbuster Sherlock Holmes, starring Jude Law and Robert Downey Jr.