Spectranet, Legend Agree to Merge, Target Q2 for Completion
Lagos-listed Legend Internet Plc has announced a proposed merger with broadband provider Spectranet Limited, in a deal that will combine the operations and assets of the two companies under a unified corporate structure.
In a notice to the Nigerian Exchange Limited on Monday, Legend said its board of directors approved the transaction on 3 October 2025, followed by shareholder approval on 7 November 2025. The agreement with Spectranet sets out plans to merge the businesses, subject to the receipt of all necessary regulatory clearances.
Legend said the merger is aligned with its long-term strategy to expand broadband infrastructure and solidify its position in Nigeria’s telecommunications sector. By integrating Legend’s and Spectranet’s fibre and wireless assets, the combined entity is expected to benefit from enhanced network capacity, improved operational efficiency and wider coverage across key urban markets.
According to the company, the deal is expected to be value accretive over the medium to long term, supporting revenue growth and improving earnings capacity through operational synergies and increased scale. The Board believes the enlarged group will be better positioned to compete in Nigeria’s fast-growing data and broadband market.
The transaction is subject to approvals from the Federal Competition and Consumer Protection Commission (FCCPC), the Nigerian Communications Commission and other relevant regulators. “Subject to securing these approvals, completion is targeted for the second quarter of 2026,” the statement said.
