The state-run Serbian company offered better conditions than the other interested party, Telekom Austria, according to the opinion of the government of the Republic of Srpska.
With the purchase of shares in the Telekom Srpske, the Serbian company is entering Bosnia-Herzegovina's telecommunications market.
The entity prime minister, Milorad Dodik, hailed the deal on Tuesday saying that it would have a wider significance than the economic one.
The Serbian firm has pledged to invest at least 50 million euros in the purchased company in the next year.