Serbia needs cash to pay international creditors

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Canada Goose Outlet Sale The government said on Tuesday the bid was below its minimum price of 1.4 billion euros and called for a higher offer within 15 days.A Telekom Austria spokeswoman had no immediate comment.Telekom Austria Chief canada goose outlet Cheap Canada Goose Executive Hannes Ametsreiter said last week he would not pay any price for the acquisition which canada goose sale would make it the dominant player in the region with a market share in Serbia of around 60 percent. [ID:nLDE72L10A]Serbia is poised for solid growth given its low broadband penetration, he said.Telekom Austria offered up to 950 million euros ($1.3 billion) for a 51 percent stake plus an additional 450 million in investment after other companies pulled out.Serbia is selling 31 percent while OTE is disposing of its holding.Serbia needs cash to pay international Canada Goose Sale creditors, finance infrastructure development and boost investment to dampen social discontent ahead of a likely 2012 election.Last week Prime Minister Mirko Cvetkovic said financing of the budget would not be jeopardised if the sale of Telekom Srbija failed.Under the terms of a 3 billion euro deal with the International Monetary Fund, due to expire in April, Serbia pledged to contain its 2011 budget deficit at 4.1 percent of gross domestic product and achieve 3 percent economic growth.(Reporting by Aleksandar Vasovic; Editing by David Cowell)C Reuters 2011. Republication or redistribution ofReuters content, including by caching, framing or similar means, is expresslyprohibited without the prior written consent of Reuters. Canada Goose Outlet Sale

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