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PEPSI'S POP FIZZLEPepsi's challenge in Latin America is spooking Wall Street. On Aug. 16, its main Venezuelan bottler said it had formed a joint venture with Coca-Cola. The news came just after Pepsi's top Latin American bottler reported a big loss and its Puerto Rican bottler reported a still undefined accounting misstatement. Pepsi is challenging the Venezuelan bottler's move with Venezuelan regulators, and may take action in the U.S. That hasn't aided the stock: It fell 1 3/8, to 30 1/8, after the Venezuela flap was announced. EDITED BY KELLEY HOLLAND
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Updated June 14, 1997 by bwwebmaster
Copyright 1996, by The McGraw-Hill Companies Inc. All rights reserved.
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