Guy Ritchie and Madonna attend the world premiere of RocknRolla at Odeon West End on September 1, 2008 in London, England.
Mike Marsland/WireImage.com

CelebNews@Usmagazine.com! - Madonna's Rep: Settlement "Has Not Been Finalized"

Madonna and Guy Ritchie have not settled their divorce, the singer's rep insists.

The Sun and The Mail on Sunday reported that the two had struck a deal over their finances and how to split their properties.

The Mail also reported that they had agreed to a custody arrangement for their children.

But Liz Rosenberg, Madonna's rep, tells the Associated Press: "I will not be commenting on the various reports regarding the divorce or of the settlement which has not been finalized."

The pair (who do not have a prenuptial agreement) announced they were splitting last week after 7 1/2 years of marriage.

They are reportedly worth around $525 million, with Ritchie having an estimated $35 million fortune.

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They own homes in London, Los Angeles and New York, and a 1,200-acre retreat in Wiltshire, England.

They have two children: Rocco, 8, and David Banda, 3, who was adopted in Malawi in 2006. Madonna has a daughter, Lourdes, 12, from a previous relationship with Carlos Leon.

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