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Sports star promotes water instead and costs Coca-Cola billions

coca cola water

Soccer superstar Cristiano Ronaldo's removal of two Coca-Cola bottles during a press conference at the European Championship has coincided with a more than $A5 billion fall in the share price of the drinks giant.

The Portugal captain is a renowned health fanatic and make it clear what he thinks of the carbonated soft drink.

The 36-year-old shifted the bottles of Coca-Cola away from him during a press conference on Monday in the prelude to his country's Group F game against Hungary.

Ronaldo followed it by holding up bottle of water before declaring in Portuguese: 'Agua!', appearing to encourage people to choose that instead.

Coca-Cola share price dropped from $US56.10 ($73) to $US55.22 ($71.86) almost immediately after Ronaldo's gesture, a 1.6 per cent dip.

The market value of Coca-Cola went from $US242b ($315.2b) to $US238b ($310b) - a drop of $US4b ($5.2b).

Coca-Cola, one of the official sponsors of Euro 2020, replied on Tuesday with a statement that read in part "everyone is entitled to their drink preferences" with different "tastes and needs".

A Euros spokesperson said: "Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conferences."

Ronaldo is one of the greatest soccer players in history and a pop culture colossus, boasting nearly 300 million Instagram followers.

On Tuesday, Ronaldo scored twice in a 3-0 win over Hungary in Budapest for European champions Portugal - moving beyond France legend Michel Platini as the record goalscorer at the European Championship finals with 11.

© AAP 2021

Image: Fabrizio Andrea Bertani / showcake /