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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 European Championship has coincided with a $4bn fall in the share price of the drinks company.

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 a bottle of water before declaring in Portuguese: “Agua!”, appearing to encourage people to choose that instead.

Coca-Cola is one of the official sponsors of Euro 2020. The company’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.

Read More at https://amp-theguardian-com.cdn.ampproject.org/c/s/amp.theguardian.com/football/2021/jun/16/cristiano-ronaldo-snubs-coca-cola-billions-wiped-off-drink-giants-market-value



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