Banks meet today to renegotiate BCE lending terms: reports

TORONTO – The banks backing the $52-billion leveraged buyout of BCE Inc. are looking to renegotiate a lower per share price, according to media reports. Some analysts say the banks, including Citigroup Inc., Deutsche Bank AG and Royal Bank of Scotland, were in a meeting Wednesday looking for $39.25 a share rather than the $42.75 originally agreed upon. Numerous reports state the financiers and the buyers in the proposed purchase have “serious and significant disagreements” over some of the lending terms. Skittish given the disastrous credit market and mounting bad loans, the banks are backtracking on lending money on the...