"On the contrary, he has everything to lose," he said.
Cojuangco, who chairs food and beverage giant San Miguel Corp. has not yet decided whether to join next year’s presidential race. He is reportedly in the process of consulting with leaders of his pro-administration Nationalist People’s Coalition (NPC).
The businessman and former Marcos and Estrada ally ran for president in 1992 but lost to Fidel Ramos.
Pimentel said if Cojuangco decides to seek the presidency again and wins, "he will lose his huge business empire."
"If he strictly follows the law on divestment, he will have to sell his interests in San Miguel and other businesses. And he cannot sell to his relatives," he said.
On the other hand, if he loses, he would have created enemies in the winning presidential candidate and his allies who could make life difficult for him again, he said.
"So either way, I think he loses. It’s a no-win scenario for him," he added.
The Mindanao senator pointed out that preserving his businesses would be a big factor in Cojuangco’s decision-making process.
Pimentel also reiterated his appeal for opposition parties to unite and field a common candidate in next year’s presidential election.
He said the opposition should brace for the likelihood that President Arroyo would break her promise not to run and join the May 2004 presidential race.
If she runs, then the opposition should have only one candidate so it would have a strong chance of wresting power from the ruling party, he said.
As of now, there are only two declared presidential aspirants in the opposition ranks: Pimentel, who heads PDP-Laban, and colleague Panfilo "Ping" Lacson, who belongs to Laban ng Demokratikong Pilipino (LDP), the biggest opposition party.
Sen. Edgardo Angara, who is LDP president, is not supporting Lacson. He is rooting for Cojuangco.
Sen. Rodolfo Biazon, who also belongs to LDP, said "as far as our party is concerned, anything goes, although Senator Angara wants to draft Ambassador Cojuangco as our presidential candidate."
"It could be Ping Lacson or Danding Cojuangco," said Biazon, who is seeking reelection next year.
Meanwhile, Lacson’s spokesman said yesterday the senator is definitely running in next year’s elections even if Cojuangco decides to take another crack at the presidency under the administration banner.
"Senator Lacson’s decision to pursue his presidential bid is not in any way tied with Mr. Cojuangco’s decision, since to date he is the lone united opposition’s bet and Mr. Cojuangco is with the administration," lawyer Rufus Rodriguez, Lacson’s spokesman, said.
"It is really up to Mr. Cojuangco to decide if he will still run once President Arroyo decides to run," Rodriguez, who unsuccessfully ran for senator in 1992 under NPC, said.