Brexit negotiators from Britain and the EU began formal talks on the U.K.'s exit from the bloc on Monday, however, billionaire financier George Soros predicted that if all goes well, both parties could look to cancel divorce proceedings before too long.

"The fact is that Brexit is a lose-lose proposition, harmful both to Britain and the European Union. It cannot be undone, but people can change their minds," Soros wrote in The Mail on Sunday, a right-wing leaning tabloid newspaper in the U.K.

"The divorce process would take at least five years, and during that time new Elections would take place. If all went well, the two parties may want to remarry even before they have divorced," he added.

Speaking in Brussels on Monday, Britain's Brexit minister, David Davis, said he hoped the U.K. and Europe would be able to form a "new, deep and special partnership" as a result of formal negotiations. Davis added London sought to find a "positive and constructive tone" in the ongoing discussions.

Meantime, the EU's chief negotiator, Michel Barnier said his aim for Monday would be for Britain to agree to a format and timetable.