Issue link: https://maltatoday.uberflip.com/i/1384247
10.6.2021 7 FOREIGN NEWS SHORTLY after Portuguese soccer star Cristiano Ronaldo slid two Coca-Cola bottles away from him during a press conference on Monday, at least $4 bil- lion was wiped off the soft drink com- pany's market value, according to data from stock market research platform, Macrotrends. Ahead of Portugal's opening game at the Euro 2020 tournament against Hun- gary, in Budapest, the health-conscious athlete was caught on camera as he moved the soft drinks away from him. He then held up a bottle of water and said "agua." As the 30-second interaction went viral, it had swift repercussions for the Atlanta-based beverage company, which is one of the tournament's official sponsors. Coca-Cola's share price, which closed at $56.08 on Friday, dropped to $55.22 on Monday shortly after Ronaldo's ac- tion and the company's market value also fell to $238 billion on Tuesday down from $242 billion earlier this month — a loss of at least $4 billion, according to data from Macrotrends. e 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 NBC News 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 play- ers throughout the tournament." It added that players "can choose their preferred beverage" at press conferenc- es. Ronaldo's action won praise from sports commentators on social media, as well as Tampa Bay Buccaneers quar- terback Tom Brady Anti-obesity campaigners also wel- comed the gesture from the 36-year-old Portugal team captain who went on to become the highest goal scorer in Eu- ropean Championship history on Tues- day, when he scored twice in his team's 3-0 win over Hungary. Ronaldo was "setting a positive exam- ple for young fans and showing his dis- dain for a cynical marketing attempt to link him with a sugary drink," Britain's Obesity Health Alliance tweeted. One of the richest athletes on the plan- et, Ronaldo has a lucrative brand off the pitch commanding huge endorsement deals and with 299 million followers, he is the most followed athlete on Insta- gram — surpassing reality TV star Kim Kardashian and singers Ariana Grande and Beyoncé. Earlier this month, Ronaldo, who is also known to fans as "CR7," tweeted: "My body is my weapon. It's the most important thing to me. In football, we are always told to eat well and train well to have a longer professional career." However, some on social media have also pointed out that Ronaldo appeared in a 2006 advert for Coca-Cola and fea- tured in a commercial for fast food gi- ant, KFC. After Ronaldo's decision made head- lines, French soccer star Paul Pogba later also removed a bottle of Heineken beer near him at a press conference. A spokesperson for the Dutch brewing company, which is an official sponsor of the tournament, said in an email: "We fully respect everyone's decision when it comes to their beverage of choice." Coca-Cola takes a $4 billion dive in wake of Cristiano Ronaldo snub Coca-Cola's share price dropped after Ronaldo's gesture Cristiano Ronaldo