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Ronaldo snub wipes billions off Coca-Cola’s market value

Coca-Cola’s share price dropped from $56.10 to $55.22 almost immediately after Ronaldo’s gesture, a 1.6% dip

Update : 16 Jun 2021, 07:27 PM

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

A Euros spokesperson said: “Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conferences.” Everyone “is entitled to their drink preferences”.

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

Tuesday, he scored twice in Portugal’s 3-0 win over Hungary – moving beyond France great Michel Platini as the record goalscorer at the European Championship finals with 11.

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