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Coca Cola loses $4 billion after Cristiano Ronaldo pushes aside soft drink at presser

By Saima Siddiqui 
Updated Date

What can be called as a nightmare for any company, soft drink giant, Coca Cola bore the loss of whopping $4 billion in the company’s market value, after Cristiano Ronaldo removed a couple of coke bottles at a pre-match press conference and advising to instead ‘drink water’. The market value of the popular beverage brand dipped $4 billion from $242 to $238 billion.

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The star footballer’s act of pushing aside Coke bottles and saying “agua”while holding up the bottle of water as a sign of endorsement, not only resulted in the fall of Coca Cola’s market value, but it also dropped its stock price to 1.6 per cent, down from $56.10 to $55.22 within hours of the episode.

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Meanwhile, Coca Cola issued a statement and said that players are offered water, alongside Coca Cola and Coca Cola Zero Sugar on arrival at their press conferences.

The company said that “everyone is entitled to their drink preferences” and that everyone has different “tastes and needs”.

Coca-Cola is one of the official sponsors of Euro 2020 which is why the coke bottles were placed for marketing on the table.

One of the top footballers of the world, Ronaldo is a fitness fanatic, well known by his nearly 300 million Instagram followers.

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