Just a Moment News - 2024-06-05


Hello and welcome to “Just a Moment News.” I’m your host, Erika, and today, on June 5, 2024, we’re diving into the latest headlines, discussing them without drawing conclusions or imparting lessons. Let’s get started.

First up, we have an interesting development in the business world. Vivendi SE’s Canal+ has announced a mandatory all-cash offer for MultiChoice Group Ltd. at one hundred twenty-five Rand per share. This offer, which starts on Wednesday and will close on April 25, values MultiChoice at three billion dollars. The results of this offer are expected to be released on April 29. Canal+ currently holds a 45.2% stake in MultiChoice, having invested one point two billion euros into the company since 2020 to expand its presence in Africa. After their stake surpassed 35%, they were required by South Africa’s Takeover Regulation Panel to make this mandatory offer. MultiChoice shares have seen a drop of 2.6% in Johannesburg, bringing the company’s valuation to forty-nine billion Rand. Vivendi is also planning to list Canal+ publicly early next year, aiming to split it into four publicly traded units. The planned listing of the new combined entity in Europe and Johannesburg could see nearly fifty million subscribers under its belt.

Next, let’s talk about a major tech hiccup. On June 4, 2024, ChatGPT and several other AI services experienced a significant outage, affecting millions of users worldwide. The issues began around 2:30 AM ET, with OpenAI working on a fix that was implemented around 7:30 AM ET. However, the problems persisted throughout the day, with all systems reportedly back online by 5:01 PM GMT. The exact cause of the outage remains undisclosed, leading to a mix of frustration and humor on social media as users discussed their reliance on these AI tools.

Moving on to regulatory news from South Africa, the Information Regulator is taking a stand against unsolicited spam calls. They’ve issued enforcement notices with substantial fines for non-compliance. This crackdown includes political parties involved in the 2024 National Elections who have been making unsolicited calls to promote their campaigns. The first enforcement notice was issued in February 2024 to FT Rams Consulting, demanding the cessation of unsolicited messages without consent and threatening fines of ten million Rand or up to ten years in jail for non-compliance. The regulator has identified 14 other potential offenders and issued guidance on how political parties should handle voters’ personal information.

In tech infrastructure news, Google is developing a new undersea cable system named Umoja, which will be the first to connect Africa and Australia. This initiative aims to establish a resilient network for a region prone to high-impact outages. Despite inquiries, Google has disclosed limited details about the Umoja cable, including its collaboration with Liquid Intelligent Technologies for the terrestrial segment and SubCom for the submarine portion.

From the cosmos, we have news that China’s Chang’e-6 probe has successfully lifted off from the far side of the moon, carrying lunar rocks. This marks a significant step towards becoming the first nation to return samples from the moon’s far side. The probe, which collected samples between June 2 and 3, is expected to land in Inner Mongolia around June 25. Scientists are eager to analyze these samples for insights into the solar system’s origins.

Lastly, on the entertainment front, Showmax is offering a variety of series, including the second season of “House of the Dragon” set to premiere on June 17, 2024. Other notable series include “Special Ops: Lioness,” “Power Book IV: Force S2,” and “Chucky S3,” among others. These series feature big-name stars and cater to a wide range of interests, from political thrillers to high-pressure dramas.

That wraps up our news discussion for today. Thank you for tuning into “Just a Moment News.” I’m Erika, and we’ll see you next time for more insightful discussions on the latest headlines. Stay informed!

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