CABLE SAYS CONSORTIUM PROPOSALS NOT ACCEPTABLE

  Cable and Wireless Plc &lt;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.
  

