It's a non sequitur to think the mice can't feed in the shadows of elephants.
Global telco, messaging and wifi is huge with a multitude of segments. And rapidly evolving, daily. NOR just needs about $10-20m revenue to cover costs and establish a footing.
Whatsapp was virtually non-existent three years ago, and to have suggested then than it would supplant SMS as the go to messaging service would have been laughable.
Strategy is not a rear vision mirror exercise.
Ann: Quarterly Cashflow Report-NOR.AX, page-130
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