Coca-Cola Loses $4billion After Ronaldo’s Removal Of Two Of Its Bottles


Coca-Cola loses $4billion after Ronaldo’s removal of two of its bottles

The 36-year old footballer had replaced two Coca-Cola bottles with water during a press conference.

LAHORE: (UrduPoint/Pakistan Point News-June 16th, 2021) International beverage giant Coca-Cola company lost $4 billion in market capitalization after Cristiano Ronaldo’s removal of two Coca-Cola bottles during a press conference.

Australian Associated press reported that Coca-Cola’s share price slipped from $56.10 billion to $55.22 billion soon after removal of two of its bottle by Cristiano Ronaldo.

“The market valuation of Coca-Cola went from $242 billion to $238 billion after fall of $4billion,” Australian Associated Press said.

According to the media reports, the company on Tuesday said: “Everyone is entitled to their drink preferences” with different “tastes and needs,”.

The 36-year-old Portuguese and Juventus FC striker replaced two bottles aside by water bottle during a press conference.

He was speaking to the reporters ahead of Portugal’s first game of the tournament against Hungary.

Ronaldo followed it by holding up a water bottle before saying “Agua!” in Portuguese and appearing to encourage people to choose water.

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

Ronaldo scored twice in Portugal’s 3-0 victory in Tuesday’s game against Hungary, thereby moving beyond France’s Michel Platini as the record goalscorer at the European Championship finals with 11 goals.

Fida Hussnain

Fida Hussnain is a lahore based journalist. He writes on politics, religion, social issues and climate change. He is also a research fellow at University of Gujrat.