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Bermuda’s WOW facing shutdown unless white knight bidder emerges

17 Jan 2022

Bermudan cable TV and erstwhile broadband services provider World on Wireless Limited (WOW) is reportedly facing an order to wind up the company, although The Royal Gazette notes a hearing on the matter has been adjourned to March to allow for the possible sale of the business. WOW legal representative Kyle Masters told the judge at a hearing on 14 January that the buyout will ‘hopefully be closed by March’ prompting an adjournment until after 1 March 2022.

The paper reported only last week that an as yet unnamed bidder for the company is ‘in the midst of finalising its due diligence’ which may avert WOW’s closure. The troubled cableco is insolvent as a consequence of accumulated trading losses and accrued liabilities, but for now at least, continues to operate ‘without interruption’ while a buyer is sought.

Bermuda, World on Wireless (WOW)

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