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LONDON: Queen Margrethe II of Denmark announced her intention to abdicate the throne during her New Year's Eve address on Sunday, according to media reports.

The queen, aged 83, said she would formally step down on Jan 14 after five decades on the throne, Anadolu Agency reported, citing Dagens News.

Queen Margrethe II ascended the throne in 1972, following the death of her father, King Frederik IX.

According to the report, her abdication sets the stage for her eldest son, Crown Prince Frederik, 55, to become king of Denmark.