Legend Internet and Spectranet Announce Proposed Merger to Boost Nigeria’s Broadband Sector
Legend Internet Plc has reaffirmed its commitment to transparency, stating that it will continue to keep the investing public and the Nigerian Exchange Limited informed of any significant updates regarding the transaction as it progresses.
Legend Internet Plc has announced a proposed merger with Spectranet Limited in a move aimed at strengthening its position within Nigeria’s telecommunications and broadband sector. The disclosure was made in a press release issued from Abuja on 23 March 2026 and communicated to the Nigerian Exchange Limited (NGX) and stakeholders.
According to the company, the merger agreement follows resolutions approved by Legend’s Board of Directors on 3 October 2025 and by shareholders on 7 November 2025. The transaction will see the businesses and operations of both companies combined under a unified corporate structure, subject to the receipt of all required regulatory approvals.
The proposed merger is expected to support Legend’s long-term strategy of expanding broadband infrastructure and improving service delivery. By integrating fibre and wireless technologies, the combined entity aims to enhance network capacity, improve operational efficiency, and extend coverage across key urban areas in Nigeria. The company also noted that the deal is expected to strengthen its competitive position in the market.
From a financial perspective, the merger is projected to deliver value to shareholders through increased scale, operational synergies, and improved earnings potential. The Board of Directors believes the transaction will be value accretive over the medium to long term, supporting both revenue growth and long-term sustainability.
The completion of the merger remains subject to approvals from key regulatory bodies, including the Federal Competition and Consumer Protection Commission and the Nigerian Communications Commission. If all approvals are secured, the transaction is expected to be finalized in the second quarter of 2026.
Legend Internet Plc has reaffirmed its commitment to transparency, stating that it will continue to keep the investing public and the Nigerian Exchange Limited informed of any significant updates regarding the transaction as it progresses.
