A petition to wind up cable television provider World on Wireless Limited (WOW) has been adjourned to allow time for a sale of the business to be agreed.

Puisne Judge Larry Mussenden granted the adjournment on Friday morning after hearing from lawyer Kyle Masters of law firm Carey Olsen, representing WOW, the petitioners.

Mr Masters said a deal will “hopefully be closed by March”.

He said he was instructed to adjourn the petition to a return date after March 1.

Mr Masters advised the court that lawyer Richard Horseman of law firm Wakefield Quin, representing creditor Washington Properties Limited, did not object to an adjournment, and the joint provisional liquidators of the company supported an adjournment.

The Royal Gazette reported Thursday that a bidder for the company is in the midst of finalising its due diligence. Mr Justice Mussenden adjourned the matter for mention on March 4.