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Coca Cola: suffer $4 billion loss after Cristiano Ronaldo ‘bottle’ incident

Coca Cola: suffer $4 billion loss after Cristiano Ronaldo 'bottle' incident

The removal of two Coca-Cola bottles by Cristiano Ronaldo during a Euro 2020 press conference coincided with a $4 billion reduction in the company’s market value.

According to a report in The Daily Star, the beverage company’s stock dropped 1.6 percent in value, falling from USD 242 billion to USD 238 billion.

As he sat down to speak to the media on Monday in Budapest ahead of his national team’s Group F opener against Hungary, the Portugal captain was clearly troubled when he saw two bottles of the fizzy soft drink in front of him.

The Portuguese football team’s captain is a well-known fitness enthusiast. Ronaldo made his intentions about carbonated drinks clear at a press conference in Budapest before Portugal’s Euro 2020 match against Hungary.

He scored twice in Portugal’s 3-0 win over Hungary on Tuesday, making ronaldo a total of 11 goals in the European Championship finals.

Coca-Cola, an official sponsor of Euro 2020, responded in a statement that “everyone is entitled to their drink preferences” with different “tastes and needs.”

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

They added that without the support of brands like Coca-Cola, “we could not organize a tournament with such success for players and fans, nor invest in the future of football at all levels.”

Coca-Cola is one of the official sponsors of Euro 2020, hence the bottles were put on the table for commercial reasons.

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