I think the Venezuelan strike would cause a certain amount of delay but there wasn't anything to indicate that this deal wasn't going to get done eventually. I've been involved in lots of takeover plays and the worst ones are the utilities where the regulatory boards are notorious for taking their sweet time in approving these deals. So a bit of delay isn't really that bad imho. Still have to be prepared for some gut wrenching. Nothing is ever written in stone with these mergers.
I worked for the Coca-Cola Co. in Mexico City for a year so I was in the beverage industry environment for a bit and honestly I think this a done deal..
I also grew up in Brazil and my father is an active businessman in the restaurant industry in Brazil and he tells me Latin American anti-trust authoritities are typically not very aggressive (not that this is really an anti-trust issue to begin with, but u never know)..
Of course that's no guarantee but trading is always a probabilities game and I think the end of the strike in Venezuela will tip things in our favor..of course PB hasn't officially announced they will open their plants and Cisneros (big PB shareholder in VZ) really hates Chavez, but from reading the online Venezuelan newspapers the strikers are scraping the bottom of the barrel now, with the banks defecting the momentum is completely against them..