Most telco stocks rally on Bharti Infratel, Indus Tower acquisition deals

Telecom stocks rallied up on Wednesday post reports that consortium led by US buyout fund KKR , Canada Pension Plan Investment Board, Abu Dhabi Investment Authority and GIC Singapore are in talks to acquire Indus Towers, the world’s largest wireless infrastructure company, and telecom tower company Bharti Infratel for $11billion.The largest buyout of its kind pushed Infratel’s stocks up by 2.45% to around Rs 410 a piece during the afternoon trading hours on Wednesday.Kumar Mangalam Birla owned Idea Cellular’s shares were up by 2.12% at Rs 74.50 while Bharti Airtel’s stocks shot by 4.62% at Rs 401.80 during the afternoon trading hours on BSE.