02 August 2021,   23:35
more
Cristiano Ronaldo snub wipes billions off Coca-Cola’s market value

Cristiano Ronaldo’s removal of two Coca-Cola bottles during a press conference at the Euros has coincided with a USD 4bn fall in the share price of the drinks giant, writes The Guardian.

The Portugal captain is a renowned health fanatic and made it clear what he thinks of the carbonated soft drink. The 36-year-old shifted the bottles of Coca-Cola away from him during a press conference in Budapest on Monday in the prelude to his country’s Group F game against Hungary.

Ronaldo followed it by holding up bottle of water before declaring in Portuguese: “Agua!”, appearing to encourage people to choose that instead.

Coca-Cola’s share price dropped from USD 56.10 to USD 55.22 almost immediately after Ronaldo’s gesture, a 1.6% dip. The market value of Coca-Cola went from USD 242bn to USD 238bn – a drop of USD 4bn.

Coca-Cola, one of the official sponsors of Euro 2020, replied on Tuesday with a statement that said “everyone is entitled to their drink preferences” with different “tastes and needs”.

A Euros spokesperson said: “Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conferences.”

Ronaldo is a pop culture colossus, boasting nearly 300 million Instagram followers.

MORE HEADLINES