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Coca-Cola loses $4 billion after Ronaldo gesture

London: Coca-Cola has said that “everyone is entitled to their drink preferences” after football star Cristiano Ronaldo removed two of the company’s soft drink bottles from his press conference. The incident happened during Ronaldo’s press conference.

At the pre-match press conference for UEFA Euro 2020, the Portuguese star wasn’t pleased with the fact that two Coca-Cola bottles were kept in front of him. 

So, he moved the bottles out of the camera view and encouraged people to drink water instead. 

This gesture took $4 billion from Coca-Cola’s market value and its shares dropped 1.6 per cent.

Later, in a statement, a Coca-Cola spokesperson said, “Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conferences.” The spokesperson added that people have different “tastes and needs”.

Coca-Cola is one of the official sponsors of Euro 2020.

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