said by Bellundo :

The BCE deal is toast. No bank in the world will lend them money not at 10 percent or at 20 percent interest. They can sue and sue but it won't get them anywhere. The deal was doomed to fail from the start... end of story.

The last hurdle to the deal also looks to be gone as the banks said they would proceed with the deal. The banks are slated to provide billions in financing to complete what is a US$51 billion cash and debt takeover.

Citigroup, Deutsche Bank, Royal Bank of Scotland and Toronto-Dominion Bank, the four banks that have committed to financing the debt portion of deal, issued a statement saying they expect the transaction will close "in accordance with the Definitive Agreement between BCE and the sponsors. We continue to negotiate the financing documents in good faith with the sponsors and stand behind our original commitment to the transaction."