I think it depends on what VNPT wants from NOR. If they are going to offer it as an optional extra for a few bucks a month as per the last MOU I think the ann may be a little disappointing. If VNPT are really going to mount a solid OTT defense they are really going to have to embrace NOR, white label the short haul voip tech and market the shit out of it to their customers.
If they get behind NOR I think it should be worth several Million. Remember the great little bonus share package management wrote themselves if they can get a contract worth over 3 million ? Worth a punt that they will try and go for that given the size of the fish they are dealing with and the risks in this space at the moment.
Best case would be an upfront payment over 3 million plus a revenue sharing agreement. Before anybody calls me an upramper do the maths on what VNPT will be losing in revenue by taking no action in this field.
My fear is that the some of the old guard in VNPT will just pay lip service to NOR and not really embrace it. An ann of a profit sharing agreement only will still leave NOR short on revenue in the final quarter of this year unless they can get other teleco's on board as well in my calculations.
NOR Price at posting:
2.8¢ Sentiment: Hold Disclosure: Held
