Spain's King Juan Carlos signs abdication bill

King Juan Carlos of Spain has signed the bill formally abdicating in favour of his son, Prince Felipe.

Juan Carlos, 76, signed it at a ceremony in the Royal Palace in Madrid. Felipe, 46, will become king at midnight local time (22:00 GMT) although the event will not be marked in public until Thursday morning.

After signing the bill, which was co-signed by Prime Minister Mariano Rajoy, the assembled guests applauded.

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