Comments
Soon after football star Cristiano Ronaldo moved two bottles of Coca Cola at a press conference and held up a bottle of water instead, the beverage giant lost billions in market value on Tuesday.
Ronaldo at a press conference was seen putting aside Coca Cola bottles while sitting down for a media interaction, taking the brand name. He then picked up a bottle of water and said "Agua" the Spanish word for water.
Coca Cola is a sponsor for the ongoing Euro 2020 sponsor where the Portuguese star footballer is representing the country. Ronaldo is a known fitness enthusiast.
The video of the incident was shared on social media and soon went viral.
The market value of Coca-Cola dipped from $242 billion to $238 billion, a drop of a whopping $4 billion soon after. Its share price went from $56.10 to $55.22, down 1.6 per cent drop. It then went to $55.41.
Coca-Cola replied with a statement that, “everyone is entitled to their drink preferences” with different “tastes and needs,” as per a Guardian report.
A Euros spokesperson said, “Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conferences,” as quoted by the report.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.