In a statement published today revealing the final decision, it said: "The CC has concluded that the merger would not result in a substantial lessening of competition in the markets for the provision of venue space to promotions, provision of sponsorship opportunities or the provision of other event-related services such as catering."
The 12,500-seat arena, owned by Quintain Estates, will be run by AEG Facilities, a stand-alone affiliate of AEG. It was was previously operated by Live Nation Entertainment prior to .
The decision follows, which would see AEG add the venue to its existing portfolio including the O2 Arena, Hammersmith Apollo, and IndigO2, along with a number of international event spaces.
Rod O’Connor, executive vice president of AEG Facilities, Europe, said: "Wembley Arena holds a special place in the hearts of music and live entertainment fans. It enjoys fame on a global scale and we are delighted to welcome it into our portfolio of elite and iconic venues and to have the opportunity to support it with our experience in operating many of the world's most successful live events venues.
"Quintain’s Wembley Park estate is currently undergoing a remarkable transformation and we are proud to be a part of a development that will not only benefit fans, but also the local community. This deal marks a new chapter in Wembley Arena’s illustrious history and we are committed to delivering the very best experience for fans, artists and partners."
James Saunders, chief operating officer at Quintain, added: "This is fantastic news for Quintain and for London, the biggest market place in the world for live music. AEG is the world's leading venue operator and we look forward to AEG bringing the world-class content, world-class customer experience and the operational expertise they have demonstrated at the O2 to the iconic and much loved Wembley Arena.
"The new partnership with AEG comes at an important time for Quintain, just eight weeks before we open London’s newest retail destination next to Wembley Arena – London Designer Outlet. We can now offer visitors to the arena a much more rounded experience with shopping, dining and even an stay overnight at the Hilton London Wembley. The two attractions combined should drive over eight million visitors a year to the Wembley Park area, creating jobs and many new exciting opportunities."
Martin Cave, CC deputy chairman and chairman of the AEG/Wembley inquiry group, said: "AEG’s opportunity to increase venue hire prices would be limited because factors such as capacity, availability, brand, reputation and personal preference are more important to acts booking the venue. Negotiation on the venue hire price takes place after the venue booking has been confirmed.
"We also considered whether AEG would have an incentive to reduce the quality of the venue after the merger and found that doing so could damage AEG both in financial terms and also in relation to its reputation at its other venues."
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