These investments tops off a year in which the English phone company won the battle for Germany’s Mannesmann AG, a stake in U.S.-based Verizon Wireless, and a majority ownership in Spain’s Airtel SA, making it the dominant global player in the telecom industry.

• With an increase stake in Japan Telecom, Vodafone has greater control over the company’s J-Phone wireless unit.
• Japan Telecom owns 54 percent of J-Phone, the country’s third largest wireless operator, while Vodafone holds 26 percent.
• A stronger hand in J-Phone will allow Vodafone to compete with NTT DoCoMo in the very lucrative Japanese market, as both Japanese telecoms will be launching 3G mobile services within the coming months.
• Japan Telecom will now have access to global technology, content, expertise, and a global network.

• Eircell complements Vodafone’s existing presence in Northern Ireland and enhances its European footprint.
• Vodafone will add more than 1.2 million customers to its base, including a large, captive market of young people.

Unlike its competitors, Vodafone has surprisingly carried out its campaign without incurring massive debt.

"Latin America will be the next dragon to be slain for Vodafone, said Nigel Hawkins, an analyst at Williams de Broe. "There are still opportunities for Vodafone in Asia, such as China, as well."