Legend Internet Plc has announced plans to merge with Spectranet Limited in a strategic move aimed at expanding broadband infrastructure and reinforcing its position in Nigeria’s telecommunications market.
In a notice issued on Monday to Nigerian Exchange Limited (NGX) and shareholders, and signed by Company Secretary Erinma Onuoma, the firm disclosed that the proposed transaction will combine the operations and business assets of both companies under a unified corporate structure.
According to the company, the merger forms part of its long-term growth strategy focused on scaling operations and deepening broadband penetration across the country. Legend noted that the deal had already received board approval on October 3, 2025, and was subsequently endorsed by shareholders on November 7, 2025, pending final regulatory clearances.
“The proposed merger aligns with Legend’s long-term strategy to expand broadband infrastructure and strengthen its position within Nigeria’s telecommunications sector,” the statement read.
Legend explained that the integration of fibre and wireless infrastructure from both firms is expected to significantly enhance network capacity, improve service delivery, and extend coverage across key urban markets.
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“The transaction is expected to deliver significant strategic and financial benefits, including enhanced network capacity, improved operational efficiency, and expanded coverage,” the company stated.
It further emphasized that the merger is projected to create sustainable long-term value for shareholders through increased scale, operational synergies, and improved earnings potential.
“The board believes the transaction will strengthen the company’s competitive position, support revenue growth, and improve earnings capacity. It is expected to be value accretive to shareholders over the medium to long term,” Legend added.
The company noted that the transaction remains subject to approvals from the Federal Competition and Consumer Protection Commission (FCCPC) and the Nigerian Communications Commission (NCC).
Subject to receiving the required regulatory approvals, completion of the merger is expected in the second quarter of 2026.
Legend also assured investors that it would continue to provide timely updates on any material developments related to the transaction.
The announcement comes months after Legend Internet Plc listed two billion ordinary shares by introduction on the NGX main board in April 2025, marking a significant step in its expansion journey within Nigeria’s fast-evolving broadband market.