Legend Internet Plc has unveiled plans to merge with Spectranet Limited as part of efforts to expand broadband infrastructure and strengthen its presence in Nigeria’s telecommunications sector.
In a notice issued on Monday to the Nigerian Exchange Limited (NGX) and shareholders, the company said the proposed deal would consolidate the operations and assets of both firms under a single corporate structure. The notice was signed by the company’s secretary, Erinma Onuoma.
According to Legend Internet, the merger forms a key part of its long-term growth strategy aimed at scaling operations and increasing broadband penetration across the country.
The company said its board approved the transaction on October 3, 2025, while shareholders gave their consent on November 7, 2025. The deal, however, remains subject to regulatory approvals.
Legend noted that combining the fibre and wireless infrastructure of both companies would help boost network capacity, improve service quality, and widen coverage, particularly in major urban areas.
“The proposed merger aligns with Legend’s long-term strategy to expand broadband infrastructure and strengthen its position within Nigeria’s telecommunications sector,” the company said in the statement.
It added that the transaction is expected to deliver both strategic and financial benefits, including improved operational efficiency, expanded network reach, and stronger service delivery.
The company also expressed confidence that the merger would generate long-term value for shareholders through operational synergies, increased scale, and stronger earnings potential.
“The board believes the transaction will strengthen the company’s competitive position, support revenue growth, and improve earnings capacity,” Legend said, noting that the deal is expected to be value-accretive for shareholders over the medium to long term.
Completion of the merger is subject to approvals from the Federal Competition and Consumer Protection Commission (FCCPC) and the Nigerian Communications Commission (NCC).
If regulatory approvals are secured, the transaction is expected to be finalised in the second quarter of 2026.
The announcement comes months after Legend Internet Plc listed two billion ordinary shares by introduction on the NGX main board in April 2025, a move seen as part of its broader expansion strategy in Nigeria’s rapidly growing broadband market.
