On masts for a gaff rig with no track, router a trough for the wire and then epoxy in a spline to cover it. On masts with track and a wood spacer under, it might be possible to put the wire in and under the spacer, but watch where the track screws go.
I'm inclined to put the VHF antenna wire and the tricolour etc wires in seperate troughs. You may even want a third trough for the steaming light.
G'luck
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