Prince William & Kate Middleton Break Up

The breakup was "amicable," a friend of the couple tells PEOPLE magazine.

The prince, 24, and Middleton, 25, have been dating for nearly five years, after meeting at St. Andrews University in Scotland.

British newspapers devoted page after page on Sunday to speculation over why Prince William's romance with Kate Middleton ended, with one saying Queen Elizabeth had told him "we don't want another Diana".

A spokesman at the prince's office at Clarence House says they will not be commenting. "We don't comment on Prince William's private life," the rep says. Britain's The Sun newspaper first reported Saturday that the pair had reached an "amicable agreement" to separate.

Friends of William, who first met Middleton in 2001 while at university in Scotland and began dating her in 2003, rubbished suggestions there had been any family summit or that his grandparents had told him to end the romance.

Middleton, the eldest child of middle-class entrepreneurs who had won plaudits for her dress sense and poise, was widely tipped to be Britain's next Queen.

After the breakup, PRINCE William racked up a staggering £11,000 bar bill as he drowned his sorrows reports Mirror UK

William, aware that news of their separation was about to break, partied until the early hours at the trendy Mahiki club in West London.

He and four male pals spent five hours drinking £800 magnums of Dom Perignon champagne and £500 "Treasure Chest" cocktails - and bought scores of drinks for other clubbers.

Wills was dragged to the dance floor at 2am by his friends for a sing-a-long of the Rolling Stones' anthem You Can't Always Get What You Want.

"He started off in high spirits but seemed to hit the wall about 3am.

"He was slumped in the corner looking miserable," said a Mahiki source.

Bleary-eyed, Wills finally staggered out of the club at 3.30am - just two hours before news of his split from Kate emerged - with a drinks stain visible on his brown corduroy trousers.

He was whisked off back to Clarence House by his security team.