Cristiano Ronaldo

Cristiano Ronaldo wipes billions off Coca-Cola's market value

Max Cooper
Ronaldo has significantly reduced Coca-Cola's market value with one action
Ronaldo has significantly reduced Coca-Cola's market value with one action / BERNADETT SZABO/Getty Images

Soft drink giants Coca-Cola have suffered a €4billion fall in their share prices after Cristiano Ronaldo moved away two bottles of the beverage and told viewers to drink water at a press conference.

The 36-year-old was speaking ahead of the Selecao's opening clash with Hungary on Tuesday, and while waiting for the press conference to start, spotted two bottles of Coke on the table in front of him. He picked them up and pushed them out of view, before then showing a bottle of water and saying in Portuguese, 'Agua'.

That single act has cost Coca Cola €4bn in market value, after their shares prices almost instantly dropped from $56.10 to $55.22 as a result of the incident - a 1.6% dip in value, reports The Guardian.

Coca Cola, one of the official sponsors of the Euro 2020 tournament, responded to the incident by saying 'everyone is entitled to their drink preferences' with different 'tastes and needs'.

And a Euro 2020 spokesperson also weighed in on the moment which has got the whole world talking, explaining why the bottles were on the table in the first place.

“Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conferences,” the spokesperson said.

Ronaldo is a well-known fitness fanatic and takes incredible care of his body as he approaches what should be the final years of his career. He is also an icon for hundreds of millions of people all over the world, and each of his actions is scrutinised by the entire population.

It's little surprise then that his decision to reject Coca Cola, the most popular fizzy drink all over the world, has had such grave consequences for the company. The forward has previously taken part in commercials for the brand in the past, suggesting his disdain for the drink has developed in recent years.

Ronaldo proved a major talking point on the pitch too, scoring twice to become the all-time leading scorer at the European Championships with 11 goals in Portugal's 3-0 victory over Hungary.