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Updated Thursday, May 27, 2010 1:25 pm TWN, Reuters

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PepsiCo ordered to remove giant 'symbol of capitalism' in Caracas

CARACAS -- Venezuelan authorities ordered the removal on Tuesday of a giant Pepsi-Cola publicity ball that is a Caracas landmark but is seen by President Hugo Chavez's government as an unwanted symbol of capitalism. The bright red, white and blue globe sits on a skyscraper in the centre of the city and can be seen from most points of the crowded capital dominated by concrete high rises.

The Chavez-controlled Caracas mayor's office said the local unit of PepsiCo Inc, run by Venezuela's leading food and drinks company Empresas Polar, would be fined 77,000 bolivars (about US$18,000) for having no advertising permission.

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