Legend Internet, Spectranet announce proposed merger to NGX
Legend Internet Plc has formally notified the Nigerian Exchange Limited and its stakeholders of a proposed merger with Spectranet Limited, aiming to unify operations under a single corporate structure.
The merger follows approvals from Legend’s Board of Directors in October 2025 and shareholders in November 2025. It is intended to create a leading player in Nigeria’s telecommunications sector by integrating fibre and wireless infrastructure.
In the official filing, Company Secretary Erinma Onuoma highlighted that the deal will deliver strategic and financial benefits, including enhanced network capacity, improved operational efficiency, and expanded coverage in key urban markets. She added that the merger aligns with Legend’s long-term strategy to grow broadband infrastructure, strengthen its competitive position, and generate sustainable value for investors.
While the agreement is formal, the completion of the transaction remains contingent on regulatory approvals from the Federal Competition and Consumer Protection Commission and the Nigerian Communications Commission. Subject to these approvals, the merger is expected to be finalized in the second quarter of 2026, marking a significant consolidation in Nigeria’s digital economy.
Legend Internet reaffirmed its commitment to transparency and pledged to keep the NGX and investors updated on any material developments regarding the transaction.
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