Ronaldo sends Coca-Cola’s valuation back by $4bn over pre-match move

Ronaldo sends Coca-Cola’s valuation back by $4bn over pre-match move

Cristiano Ronaldo broke a European Championships record with his brace against Hungary on Tuesday, June 15.

The first goal by Ronaldo — a penalty — meant he has now scored 10 goals at the finals, one more than Frenchman Michel Platini. His late second, a cute finish, lifted him to 11 on the all-time table.

The Portuguese talisman had already had a significant off-the-field contribution before that.

In the pre-match press conference, Ronaldo moved two Coca-Cola bottles away. A video of the incident, that has gone viral, clearly showed his distaste for the soft drink.

Also Read: APC defends FG’s decision to obtain loans for infrastructural development

After moving the two bottles; Ronaldo was seen promoting a bottle of ‘Agua’ (water in Portuguese). The inference was that Ronaldo, a self-confessed health fanatic, was urging people to choose water over the carbonated soft drink.

His actions were reflected by a marginal fall; in the beverage giant’s share price ($56.10 to $55.22). As a result, the company’s market valuation went down from $242bn to $238bn.

The giant, an official sponsor of Euro 2020, on a statement; said “everyone is entitled to their drink preferences” according to their “tastes and needs”.

The company’s overall market value has, however, been rising over the past three months.

Coca-Cola did not respond directly to a request for comment; but instead pointed to a statement from European soccer’s governing body, UEFA, which said the company offered “a range of drinks to suit different tastes and needs, which are available to players throughout the tournament.”


Related posts

Leave a Reply

Your email address will not be published. Required fields are marked *