Students at LSE were behind the incident
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Students from one college of London University have ransacked a rival college, causing damage estimated at thousands of pounds.
Dozens of students from London School of Economics (LSE) attacked King's College after a party.
They smashed windows and doors, set off fire hydrants and pulled down ceiling tiles in the English department.
LSE has apologised and said it will cover costs. The principal of King's has called for no retaliation.
The attack happened at the end of a fancy dress party by the LSE's athletics club.
King's College staff say reports of how many students were involved range from 50 to 200.
Howard Davies, LSE director, said: "We greatly regret the damage and disturbance caused by a number of our students.
"It is very disappointing that a group should have allowed what is normally an enjoyable day to degenerate into an incident which has shamed the school. The incidents are being investigated."
The cost of repairing the damage will be met by the students' union.
Danger and distress
King's College principal Professor Rick Trainor has called for no reprisals.
In a message to staff and students he wrote: "I would caution most strongly against retaliatory behaviour by King's students.
"Such action would be very wrong, not least because it would expose innocent people in another institution to danger and distress."
King's is helping LSE with its investigation by supplying details and CCTV footage to help catch the culprits.
Those behind the incident could be thrown off their courses and made to contribute to the repair bill.