Hi there,
It is almost impossible to answer that question.
At the moment we have no details on the IPO, no valuation, no information on if current shareholders can exchange shares, get a portion of shares as a spinout, etc. All we know is that it expects to IPO in the first quarter of 2021. As for the Lionsbridge deal - I personally like it. Data is the future and LionBridge is a leading data company and grew revenue by 29% last year. From what I've read, it appears Telus International has grown by 20-25% annually, so it will certainly be a higher growth company that Telus itself.
Comparing the two is difficult however, because despite being own by Telus they are two very different operations. So I'd expect TI to have a higher valuation that Telus simply because it has a higher growth rate. In theory, they could both fit in an investor's portfolio. But waiting to buy until its IPO, is not a question we can really answer until we see all the company releases its prospectus and we can dig into the company in more depth and see how it prices.
Mat