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.

A Euro 2020 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 almost 300 million Instagram followers.

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