(Corrects to show Gibraltar is a peninsula not an island)

MADRID, June 24 (Reuters) - Spain will seek co-sovereignity on Gibraltar following Britain’s vote to leave the European Union, acting foreign minister Jose Manuel Garcia-Margallo said in a radio interview on Friday.

Britain’s vote to leave the EU has completely changed the outlook on the future of the peninsula, he said. The small peninsula off the south coast of Spain, a British Overseas Territory since 1713 and known to its 30,000 residents as “the Rock”, is a major point of contention in Anglo-Spanish relations.

“It’s a complete change of outlook that opens up new possibilities on Gibraltar not seen for a very long time. I hope the formula of co-sovereignity - to be clear, the Spanish flag on the Rock - is much closer than before,” he said.

A spokesman for Gibraltar’s government declined to comment on the Brexit vote and referred to previous statements made on how co-sovereignty had already been rejected by around 99 percent of Gibraltarians in a previous local referendum. (Reporting By Julien Toyer and Angus Berwick, Editing by Sonya Dowsett)