. Deutsche Telekom used to own 100% of T-Mobile USA. They're dropping down to 74% of the combined company. The difference of 26% consists of the shares that they're turning over to the shareholders of MetroPCS.
Exactally.. the best way to look at this is "cup half full" approach. Don't be dissuaded by TMO loosing a 26% stake in there company, look at it as TMO now owns 74% of Metro PCS.