By Daniel Hunter

Wembley Arena is set to be taken over by AEG, meaning the firm will now control three of London's four biggest indoor venues.

AEG currently manage The O2 London, Hammersmith Apollo and holds the contract for concerts in Hyde Park.

The Wembley deal was referred to the Competition Commission amid fears that AEG's dominance in the capital could lead to higher prices.

But regulators have cleared the deal, subject to feedback from third parties.

"We have focused our analysis on how the merger between AEG and Wembley will affect the ability of their competitors and potential competitors to compete as live venue operators in the UK," said Martin Cave, deputy chairman of the Competition Commission.

"We found that while a promoter may have some influence over venue decision, the final choice of venue usually lies with the act and their agent. This is based on a number of quality factors, the main ones being capacity, availability, appearance, brand and reputation rather than hire price.

"So AEG's opportunity to increase venue prices would be limited given that other factors are more important and that any negotiation on price takes place after the venue has been confirmed."

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