Wednesday 16 June 2021 10:21 am

Cristiano Ronaldo snub wipes $4bn off Coca-Cola’s market value

Cristiano Ronaldo’s removal of two Coca-Cola bottles during a Euro 2020 press conference has coincided with a £4bn fall in the drinks giant’s share price.

The Portugal captain moved the Coke bottles away from him during a press conference in Budapest on Monday ahead of his country’s opening game against Hungary.

Ronaldo proceeded to hold up a bottle of water and say “Agua”, in a bid to encourage people to drink that instead.

Coca-Cola, one of the official sponsors of the tournament, saw its share price plummet from $56.10 to $55.22 straight after the 36-year-old’s gesture.

The market value of the drinks company dropped to $238bn from $242bn.

A Euro 2020 spokesperson added: “Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conferences.”

Following the saga, Ronaldo went on to score two goals in Portugal’s 3-0 win over Hungary to make him the record goal scorer at the European Championship finals.

Coca-Cola had recovered most of the lost value today, but continued to trade 0.25 per cent lower as markets opened.