Oct 19 (Reuters) - Ferrowest Ltd FWL.AX :
* Reconstruction proposal update FWL.AX
* Company has opted to cancel the transaction in its entirety"
* Has then negotiated option agreements with two vendors for right to purchase asset in future upon successful completion of proposal
* Says company has entered deeds of cancellation with two vendors of asset and proponent that financed the transaction
* Source text for Eikon ID:nASX2x5Npm