Coca-Cola market value drops after Cristiano Ronaldo press conference

Coca-Cola market value drops after Cristiano Ronaldo press conference
Portugal captain held up bottle of water and shouted in Portuguese: ‘Agua!’

Coca-Cola’s share price dipped by $4bn (£2.8bn) after Cristiano Ronaldo removed two bottles of the carbonated drink which were sitting in front of him at a press conference and encouraged people to drink water.

The Portugal captain moved the cola bottles as he sat down to speak to the media at Monday’s Euro 2020 press conference ahead of Tuesday’s Group F opener against Hungary.

He then held up a bottle of water and shouted in Portuguese: “Agua!”

Coca-Cola’s share price has dropped 1.6 per cent almost immediately from $56.10 to $55.22 (£39.76 to £39.14).

The market value of the company fall from $242bn to $238bn – a decrease of $4bn (£2.8bn).

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 spokesperson for the Euros told the Associated Press: “Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conferences.”

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

Pogba, a practicing 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.

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