{"id":7858,"date":"2026-03-27T07:42:35","date_gmt":"2026-03-27T07:42:35","guid":{"rendered":"https:\/\/ograsset.com\/?p=7858"},"modified":"2026-03-27T07:45:14","modified_gmt":"2026-03-27T07:45:14","slug":"legend-internet-spectranet-notify-ngx-of-proposed-merger","status":"publish","type":"post","link":"https:\/\/ograsset.com\/index.php\/2026\/03\/27\/legend-internet-spectranet-notify-ngx-of-proposed-merger\/","title":{"rendered":"Legend Internet, Spectranet notify NGX of proposed merger"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

Legend Internet, Spectranet notify NGX of proposed merger<\/strong><\/p>\n\n\n\n

Legend Internet Plc officially notified the Nigerian Exchange Limited and its stakeholders on Monday of a proposed merger with Spectranet Limited, intended to unify the businesses and operations of both entities under a single corporate structure.<\/p>\n\n\n\n

The transaction, which follows resolutions passed by Legend\u2019s Board of Directors in October 2025 and its shareholders in November 2025, seeks to create a dominant player in Nigeria\u2019s telecommunications sector by integrating fibre and wireless infrastructure.<\/p>\n\n\n\n

According to the announcement signed by the Company Secretary, Erinma Onuoma, the merger is designed to deliver significant strategic benefits, including enhanced network capacity, improved operational efficiency, and expanded coverage across key urban markets to drive sustainable long-term value for investors.<\/p>\n\n\n\n

\u201cThe proposed merger aligns with Legend\u2019s long-term strategy to expand broadband infrastructure and strengthen its position within Nigeria\u2019s telecommunications sector,\u201d stated Erinma Onuoma in the official filing to the Exchange.<\/p>\n\n\n\n

\u201cThe Transaction is expected to deliver significant strategic and financial benefits, including enhanced network capacity through the integration of fibre and wireless infrastructure, improved operational efficiency, and expanded coverage across key urban markets. The Board believes the Transaction will create sustainable long-term value for shareholders by strengthening the Company\u2019s competitive position, supporting revenue growth, and improving earnings capacity through operational synergies and increased scale.\u201d The company further emphasised the financial outlook for its investors, noting that the combination of these two major internet service providers is expected to be value-accretive over the medium to long term. While the agreement between the two companies is now formal, the completion of the deal remains subject to the receipt of applicable regulatory approvals from the Federal Competition and Consumer Protection Commission and the Nigerian Communications Commission.<\/p>\n\n\n\n

Legend Internet Plc confirmed that, provided these statutory requirements are met, the merger is anticipated to be finalised within the second quarter of 2026, marking a significant consolidation in the nation\u2019s digital economy.<\/p>\n\n\n\n

The statement continued: \u201cThe Transaction is subject to the approval of relevant regulatory authorities, including the Federal Competition and Consumer Protection Commission and the Nigerian Communications Commission.<\/p>\n\n\n\n

\u201cSubject to obtaining the required approvals, completion is anticipated in the second quarter of 2026. The Company remains committed to maintaining transparency and will continue to keep the NGX and the investing public informed of any material developments in respect of the Transaction.\u201d<\/p>\n\n\n\n

Source:<\/em> https:\/\/punchng.com\/legend-internet-spectranet-notify-ngx-of-proposed-merger\/<\/em><\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Legend Internet, Spectranet notify NGX of proposed merger Legend Internet Plc officially notified the Nigerian Exchange Limited and its stakeholders on Monday of a proposed merger with Spectranet Limited, intended to unify the businesses and operations of both entities under a single corporate structure. The transaction, which follows resolutions passed by Legend\u2019s Board of Directors… <\/p>\n

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