The event is expected to take place in the capital following cancellation of Party In The Park…

LIVE AID II is expected to take place in LONDON’s HYDE PARK.

The Prince’s Trust has cancelled its annual Party In The Park concert, which was due to take place in the capital on July 2, to make way for the possible event.

According to BBC News, Martina Milburn, chief executive of The Prince’s Trust said it was “delighted to support Live 8” and that Party In The Park would return in 2006.

Live Aid organiser Bob Geldof has so far denied plans for Live Aid II – dubbed Live 8 – though the BBC has said it is in “discussions” with the star to screen the concert.

The event is expected to take place in support of the Make Poverty History campaign, which highlights the global problem that a child dies every three seconds due to extreme poverty.

Acts already linked with Live 8 include U2, The Rolling Stones and [a][/a].

Geldof’s spokespeople have confirmed that there are discussions about holding shows and an announcement is expected in the next few days.

It is rumoured that a similar concert may take place in Washington on the same day.

Live 8 would coincide with the G8 conference, which is due to take place in Scotland on July 2.

The original Live Aid concert was held at London’s Wembley Stadium in 1985 and in Philadelphia.

It raised £60 million from pledges by the public and attracted a global audience of 1.5 billion.