May formally confirms resignation as Conservative leader

LONDON (Reuters) - British Prime Minister Theresa May formally notified her Conservative Party on Friday that she had resigned as party leader, opening the way for a succession contest that will determine the country’s next prime minister. May will remain prime minister and acting party leader until Conservative Party lawmakers and members select a new leader after a process that is expected to last several weeks. Nominations for the Conservative leadership close at 1600 GMT on Monday.