CABLE SAYS CONSORTIUM PROPOSALS NOT ACCEPTABLE
Cable and Wireless Plc <CAWL.L> said
proposals to resolve a dispute over entry to Japan's
telecommunications market were not acceptable.
    A company spokesman said the proposals appear to have been
made in today's edition of the Japanese daily Asahi by Fumio
Watanabe, head of a telecommunications committee with the
Federation of Economic Organisations.
    However, the suggestion still recommended a merger between
the two consortia tendering for contracts and would give Cable
a five pct stake, more than the three pct originally proposed
but less than the 20 pct it holds in its original venture, he
said.
    The proposal would also offer a Cable nominee a seat on the
board of the merged company.
    The spokesman said he believed Japan should accept
applications from the two rivals for fair review.
    Earlier today Cable shares firmed on market speculation
that the dispute -- which is being treated by Britain's
government as a test case of how open the Japanese
telecommunications market is -- was near settlement.
    Cable shares at 1350 GMT were quoted at 375p compared with
a close last night at 364p.
 REUTER
