The management of Legend Internet Plc, on Monday announced through the Nigerian Exchange Limited, plans to merge with competitor- Spectranet Limited in line with an October 3, 2025 resolutions of its Board of Directors and the shareholders dated 7 November 2025.
A statement by Erinma Onuoma, Company Secretary of Legend Internet, expects that the merger could be completed by Q2 2026, subject to obtaining the approvals from the Federal Competition and Consumer Protection Commission (FCCPC) and the Nigerian Communications Commission (NCC).
The proposed transaction, which Legend says aligns with its long-term strategy to expand broadband infrastructure and strengthen its position within Nigeria’s telecommunications sector, is subject to the receipt of applicable regulatory approvals.
It will involve a combination of the businesses and operations of both entities under a unified corporate structure, just as it is expected to deliver significant strategic and financial benefits.
These include an enhanced network capacity through the integration of fibre and wireless infrastructure, improved operational efficiency, and expanded coverage across key urban markets.
The statement assured of the board’s optimism that “the transaction will create sustainable long-term value for shareholders by strengthening the company’s competitive position, supporting revenue growth, and improving earnings capacity through operational synergies and increased scale.
“The transaction is expected to be value accretive to shareholders over the medium to long term,” the statement stressed, expressing commitment to maintaining transparency, while keeping the NGX and investors abreast of any material developments in respect of the transaction.
