Legend Internet Plc has announced a proposed merger with Spectranet Limited in a strategic move aimed at strengthening broadband infrastructure and expanding its footprint in Nigeria’s telecommunications sector.
The proposed transaction, disclosed in a statement filed with the Nigerian Exchange Limited (NGX), will combine the businesses and operations of both companies under a unified corporate structure, subject to regulatory approvals.
According to the company, the merger follows resolutions approved by Legend’s Board of Directors on October 3, 2025, and its shareholders on November 7, 2025.
The agreement with Spectranet is expected to position the combined entity for improved operational scale and enhanced service delivery.
Legend Internet stated that the transaction aligns with its long-term strategy to deepen broadband penetration and reinforce its competitive position within the Nigerian telecoms market.
The merger is expected to deliver increased network capacity through the integration of fibre and wireless infrastructure, while also improving operational efficiency across both entities.
The company added that the combined structure will enable broader coverage across key urban markets, supporting increased customer acquisition and service quality improvements.
From a financial standpoint, the Board noted that the transaction is expected to enhance revenue growth and earnings capacity through operational synergies and economies of scale.
It further stated that the merger is projected to be value accretive to shareholders over the medium to long term.
The completion of the transaction remains subject to approvals from relevant regulatory authorities, including the Federal Competition and Consumer Protection Commission (FCCPC) and the Nigerian Communications Commission (NCC).
Subject to receiving the required approvals, the companies expect to complete the merger in the second quarter of 2026.
Legend Internet Plc stated that it will continue to provide updates to the Nigerian Exchange and the investing public as the transaction progresses.