AFAIK, Excel does not provide the option to convert "text to rows". Nevertheless you can still break up your data using "text to columns" into 256 columns (if you are using Excel 2003 and below), transpose as values, again into 256 columns and so on.
Besides, you can use this formula in order to move your text (assuming the csv text is in A1) into consecutive rows, copied down:
Dim fn As String, delim As String, temp As String, x
Dim i As Long, ii As Long, a() As String
fn = "c:\test.csv" '<- file path
delim = ";"
temp = CreateObject("Scripting.FileSytemObject").OpenTextFile(fn).ReadAll
x = Split(temp, vbCrLf)
ReDim a(1 To 10000, 1 To UBound(x) + 1)
For i = 0 To UBound(x)
y = Split(x(i), delim)
For ii = 0 To UBound(y) : a(ii + 1, i + 1) = y(ii) : Next
ThisWorkbook.Sheets(1).Range("a1").Resize(10000, UBound(a,2)).Value = a