Cristiano snub wipes billions off Coca-Cola’s market

 Cristiano snub wipes billions off Coca-Cola’s market

Portuguese Professional Footballer Cristiano Ronaldo

Hungary, 16 June: Portuguese Professional Footballer Cristiano Ronaldo’s removal of two Coca-Cola’s bottles during a press conference at the Euros has coincided with a $4bn fall in the share price of the drinks giant.

The Portugal captain is a renowned health fanatic and made it clear what he thinks of the carbonated soft drink.

The 36-year-old footballer 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 a bottle of water before declaring in Portuguese: “Agua!”, appearing to encourage people to choose that instead.

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

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Web Desk

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