Coca-Cola market value drops by $4bn after Ronaldo snub

Portugal captain removed cola bottles at press conference and told people to drink water

The removal of two Coca-Cola bottles by Portugese footballer Cristiano Ronaldo during a press conference at the Euros has coincided with a $4bn fall in the share price of the soft drinks giant. Video: UEFA

 

Cristiano Ronaldo does not appear to be a fan of carbonated soft drinks after the Portugal captain removed two bottles of Coca-Cola kept in front of him at Monday’s Euro 2020 press conference, encouraging people to drink water instead.

The 36-year-old moved the bottles aside as he sat down to speak to the media before Tuesday’s Group F opener against Hungary.

He followed it by holding a bottle of water before saying in Portuguese: ‘Agua!’

Coca-Cola’s share price dropped from $56.10 to $55.22 almost immediately after Ronaldo’s gesture, a 1.6 per cent 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.”

France midfielder Paul Pogba removed a bottle of Heineken beer that had been placed in front of him at a Euro 2020 news conference on Tuesday.

Pogba, a practising Muslim, removed the bottle when he sat down to speak to the media after he was named man of the match in France’s 1-0 Group F win over Germany. – Agencies

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