Legend Internet, Spectranet to merge in major broadband industry consolidation

LEGEND Internet Plc has announced a proposed merger with Spectranet Limited in a strategic move aimed at strengthening broadband infrastructure and expanding Nigeria’s digital connectivity footprint.

According to a statement filed with the Nigerian Exchange Limited (NGX) on Monday, the transaction follows board approval on October 3, 2025, and shareholder endorsement on November 7, 2025. The merger will combine the operations and assets of both companies under a unified corporate structure, subject to regulatory approvals.

The deal is designed to deepen Legend Internet’s position in Nigeria’s telecommunications sector by integrating fibre and wireless infrastructure, improving operational efficiency, and expanding network coverage across major urban centres.

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Company directors said the merger is expected to deliver long-term value for shareholders through enhanced revenue growth potential, stronger earnings capacity, and cost synergies arising from scale.

However, the transaction remains subject to approval from key regulatory bodies, including the Federal Competition and Consumer Protection Commission (FCCPC) and the Nigerian Communications Commission (NCC). Completion is projected for the second quarter (Q2) of 2026, pending all required clearances.

Abuja-based Legend Internet reaffirmed its commitment to transparency, noting that shareholders and the investing public will be updated on material developments as the process advances.