CABLE SHARES FIRM ON JAPAN SPECULATION

  Shares in Cable and Wireless Plc
  &lt;CAWL.L> firmed in morning trading on market speculation that
  its participation in a joint telecommunications venture in
  Japan would not be curtailed, dealers said.
      The company's shares were quoted at 372p at 0915 GMT
  compared with 364p last night.
      The dealers said the speculation appeared to originate in
  Japan. Cable has said it is resisting attempts by the
  Federation of Economic Organisations to merge two Japan-based
  telecommunications firms, a move which would have cut Cable's
  stake from 20 pct in one to three pct in the merged unit.
      However, the dealers were uncertain exactly how the dispute
  over the shareholdings had been resolved.
      British prime minister MargaretThatcher said in parliament
  last week that she regarded Cable and Wireless's participation
  in the Japanese venture as a test case of how open the Japanese
  telecommunications market really was.
      A spokesman for Cable said he was unaware if the
  speculation had any foundation. Cable itself had issued no
  statement today on the issue.
  

