The mobile phone giant, unperturbed by the stagnant European market, is busy casting a wider net, writes Dominic White
Two years ago Arun Sarin was on the ropes. His position as chief executive of Vodafone was under threat from a tumbling share price, fears about growth and a boardroom rumpus that peaked with the departure as life president of his predecessor Sir Christopher Gent.
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But Sarin came out fighting and since then his reputation and the Vodafone share price has been rebuilt. Crucially, he seduced investors with his emerging markets strategy, helped by the successful £5.7bn acquisition of India's fast-growing Hutchison Essar in February last year.
But now fresh questions are being asked about the mobile phone giant's ability to offset sluggish growth in its Western European heartland with customer growth in newer regions.
"Vodafone has been investing in emerging markets just as emerging markets as an asset class have started to report less bullish trends," wrote Credit Suisse last week...
For more on this article, please click on the following link: From Malaysia to Pakistan, Vodafone Roams Far and Wide to Ring up Growth: Telegraph
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