Cable & Wireless Plc is seeking to defuse the dispute with its Philippine affiliate before the row ends up in court, Reuter reports from Manilla: Cable & Wireless now has 27% of Digital Telecommunications Philippines Inc – its 40% holding was diluted when it refused to subscribe to a rights issue after halting new investment because the Supreme Court ruled that its main Philippine affiliate Eastern Telecommunications Philippines Inc had no right to operate an international telephone gateway; it is appealing that decision; Digital Telecommunications depends on the Eastern gateway for international links; a Cable & Wireless W source said the key to new investment in the Philippines lay with gateway approval, either through the courts or by legislation to back up the government’s declared objective of injecting competition into the market.
