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Report: EU backs Brexit delay, but will finalize extension length next week

The European Union agreed in principle to delay the U.K.'s departure from the EU for a third time, but would finalize the length of an extension after a parliamentary vote on the U.K. general election proposal due next week, Bloomberg News reported, citing diplomats familiar with a meeting in Brussels on Oct. 25.

All leaders of the bloc's 27 member states agreed that Brexit must be extended to avert a disorderly departure on Oct. 31.

However, the exact length of the planned delay will be revealed next week, after U.K. lawmakers' Oct. 28 vote on U.K. Prime Minister Boris Johnson's proposal to hold a general election Dec. 12. Johnson reportedly needs to have a two-thirds parliamentary majority to push ahead with his plan.

Johnson yesterday said he will seek an early election if the EU grants the U.K.'s request to delay Brexit until Jan. 31, 2020.

Opposition leader Jeremy Corbyn said his party will not support a snap poll unless a no-deal Brexit is taken off the table.