This week he announced plans for the Cisneros Group, an asset management firm, of which he would be president.

The agreement that exists between the Cisneros Group and Pepsi recognizes the possibility of a change.

The Cisneros Group said it had aligned itself with Coke to insure future expansion.

The two men still relay messages to each other through cabinet officials who are on friendly terms with both of them, people close to the Cisneros Group said.

So is the Cisneros Group planning to reduce its holdings in Venezuela, as it did during the uncertain days of the early 1990's?

The Cisneros Group was founded in 1929 by Diego Cisneros as a small material transport business.

Pepsi has struck back, taking legal action against the Cisneros Group.

For over two years we were in conversation with the Cisneros Group.

We approached the Cisneros Group with a wide array of possible options, including a proposal to sell the business, to which we never received a reply.

In 1982, Villanueva joined the Cisneros Group where he worked for 26 years.