Portuguese superstar Cristiano Ronaldo's snub costs Coca-Cola $4 billion

A well-known fitness enthusiast, Ronaldo set aside two Coca-Cola glass bottles which lay in front of him during a press conference ahead of Portugal’s opening Euro match against Hungary here on Monday
Portuguese superstar Cristiano Ronaldo removed Coca-Cola bottles placed in front of him at a European Championships press conference here, which reportedly cost the global beverage giant a staggering $4 billion.

A well-known fitness enthusiast, Ronaldo set aside two Coca-Cola glass bottles which lay in front of him during a press conference ahead of Portugal’s opening Euro match against Hungary here on Monday. In a video that has since gone viral, the 36-year-old Juventus striker picked up a bottle of water instead saying “Agua!” in Portuguese, seemingly urging people to choose water over aerated drinks. According to media reports, the share price of Coca-Cola, one of the official sponsors of Euro 2020, slipped from $56.10 to $55.22 almost immediately after Ronaldo's gesture. The market valuation of Coca-Cola went from $242 billion to $238 billion, a fall of $4 billion.

Reacting to the incident, Coca-Cola in a statement said “everyone is entitled to their drink preferences” with different “tastes and needs”. Ronaldo has spoken about his uneasiness with carbonated drinks earlier as well. 

In December last year, he had tweeted, “My son has potential, We'll see if he will become a great footballer.” “Sometimes he drinks Coke and eats crisps and it irritates me.”


(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


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