Vodafone CEO Eyes Growth In India, China And Even The U.S.

Arun Sarin's quest to overhaul Vodafone's wireless empire is far from over.

With Vodafone's U.S. stock up nearly 30% in 2007 and near six-year highs, though, Sarin and shareholders already have reaped rewards for what he's done so far.

Sarin, named chief executive in 2003 as Vodafone's business model faltered, has invested $28 billion to expand into emerging markets including India, Turkey and Africa. At the same time, he's exited slow-growth markets in Japan, Belgium and Switzerland.

The 52-year-old head of the U.K. wireless carrier also aims to make Vodafone a bigger player in China. And Sarin has hopes of growing Vodafone's business in the U.S., where it owns 45% of Verizon Wireless and where, he says, he would love to own all or some of the 55% held by Verizon Communications (NYSE:VZ - News), if the opportunity arose.

Sarin's main strategy is to increase Vodafone's presence in countries that are driving regional economic growth and gain a majority stake in the right companies.

Vodafone has had minority shares of a sizable number of companies, and that has been its Achilles' heel, analysts say. But Sarin has hammered out deals that give Vodafone majority stakes in wireless firms in India, South Africa and Romania.