Legend Internet to merge with Spectranet in broadband consolidation

Legend Internet Plc, Nigeria's first publicly listed ISP, plans to merge with Spectranet, Nigeria's largest ISP by subscribers, in a deal pending FCCPC and NCC approval for Q2 2026. The transaction combines Legend's listed status and infrastructure with Spectranet's established brand recognition among home and SME users. Rising infrastructure costs and spectrum constraints are driving consolidation as competition intensifies from MTN, Airtel, Starlink, and FibreOne. Spectranet's subscriber base fell below 100,000 for the first time in 2025, though it still controlled 47.3% of Nigeria's wireless ISP market. Legend's stock, trading at ₦6.00 (12.4% YTD gain), will provide scale for competitive positioning.

SOURCE: https://techcabal.com/2026/03/23/legend-internet-merges-spectranet-in-broadband-push/