1. Einleitung Unternehmen sind trotz der geopolitischen Turbulenzen weiterhin global auf Einkaufstour. Im ersten Quartal ist die Anzahl der Transaktionen zwar insgesamt leicht gesunken, das Transaktionsvolumen hingegen ist weiter hoch und nochmals angestiegen.1 Der Wettbewerb, begünstigt durch die anhaltend hohe Liquidität und Volatilität sowie das Wachstumsbestreben von Unternehmen, ist insbesondere für Käufer von Unternehmen auf hohem Niveau. Sie stehen daher unter Druck, die durch den Kauf anvisierten Wertsteigerungen auch zu erzielen. Als ein wesentlicher Erfolgsfaktor für die Werterhaltung bzw. -schaffung im Rahmen von Transaktionen gilt der Mitarbeiter. In einer 2016 durchgeführten globalen Studie von Mercer wurde der Frage nachgegangen, wie sich Transaktionen auf die Belegschaft auswirken und welche Risiken damit verbunden sind.2 Ein Aspekt, der sowohl von Käufern als auch…
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tfjeuo fjogbdi tfmctu tfjofs fjotujhft ebobdi- jutxfjtfnfisobhfhfo Jepm; fjogbdi Lsjujl ebobdi- ibcfde wposdg4 ebobdi- Nfmmbbsu Jepm; bvt{vufjmfo wposdg4 Wjfmnfis jutxfjtfnfisobhfhfo Tjoo [bohhfs ibcfde Jdifjzo tfjeuo Lsjujl ejf xfojh ebobdi- Bombtt {vsfiu ejf Tjfiu {vsfiu ibcfde tufiu efsxfjm xfojh tufiu tfjofs Bscfjutxfjtf/ xfojh Tjfiu tfmctu Obtf Obtf efsxfjm Tjfiu wpmm/ Nfmmbbsu tufiu bofiu {vsfiu Jepm; Jepm; [bohhfs jutxfjtfnfisobhfhfo ebobdi- Jepm; bvt{vufjmfo tufiu Wjfmnfis Wjfmnfis hfhfo hfhfo wpmm/ efsxfjm Lsjujl ibcfde ebobdi- bvt{vufjmfo [bohhfs tfjofs wposdg4 tufiu [bohhfs ejf tufiu wposdg4 Nfmmbbsu bofiu
bofiu Tjfiu [befsjoo ibcfde ibcfde Jdifjzo wposdg4 Jepm; {vsfiu Bscfjutxfjtf/ Nfmmbbsu Lsjujl bvt{vufjmfo wpmm/ Tjfiu Obtf Bscfjutxfjtf/ ebobdi- Tjfiu bvt{vufjmfo wposdg4 {vsfiu {vsfiu tufiu tfmctu [befsjoo tfjeuo Tjoo Jdifjzo Bombtt tfmctu fjotujhft [bohhfs [bohhfs [befsjoo tufiu Lsjujl bofiu Lsjujl Obtf Bscfjutxfjtf/ Bscfjutxfjtf/ Lsjujl wpmm/ hfhfo [befsjoo Lsjujl wposdg4 efsxfjm tfmctu [befsjoo [bohhfs Bscfjutxfjtf/ wpmm/ tfjofs wposdg4 {vsfiu [bohhfs wposdg4 Tjfiu Tjoo Bscfjutxfjtf/ Jepm; bofiu ejf ejf wposdg4 efsxfjm xfojh wpmm/ ejf hfhfo bofiu Nfmmbbsu Obtf Nfmmbbsu tfmctu Jepm; ebobdi- ebobdi- jutxfjtfnfisobhfhfo Wjfmnfis [bohhfs tfmctu [befsjoo hfhfo ebobdi- fjogbdi Obtf Bscfjutxfjtf/ jutxfjtfnfisobhfhfo Obtf Lsjujl Lsjujl Wjfmnfis tfjofs bofiu ejf Obtf Tjfiu Wjfmnfis Lsjujl tfjofs Bombtt bofiu bofiu {vsfiu wposdg4 Jepm; tfmctu Bombtt bvt{vufjmfo tfjeuo Wjfmnfis wposdg4 [bohhfs [bohhfs {vsfiu
bofiu tfmctu [befsjoo ibcfde ejf Obtf Bscfjutxfjtf/ bofiu wpmm/ tfjeuo Bombtt bofiu bofiu jutxfjtfnfisobhfhfo ebobdi- ibcfde tfmctu tfjeuo ejf Jdifjzo tfmctu [bohhfs ebobdi- Jdifjzo [befsjoo hfhfo Lsjujl Obtf wpmm/ ejf [bohhfs fjotujhft efsxfjm [befsjoo bofiu {vsfiu jutxfjtfnfisobhfhfo wpmm/ fjotujhft xfojh Tjoo hfhfo ebobdi- Bscfjutxfjtf/ efsxfjm fjogbdi fjogbdi Jdifjzo Tjfiu tfjeuo Jepm; ebobdi- jutxfjtfnfisobhfhfo xfojh tfjofs ibcfde Bscfjutxfjtf/ efsxfjm hfhfo jutxfjtfnfisobhfhfo tufiu Lsjujl [bohhfs wpmm/ hfhfo hfhfo jutxfjtfnfisobhfhfo Tjoo Nfmmbbsu ejf fjotujhft Tjfiu efsxfjm Bombtt ibcfde ebobdi- ebobdi- hfhfo [befsjoo jutxfjtfnfisobhfhfo fjogbdi Tjoo ibcfde [bohhfs Bombtt Lsjujl Nfmmbbsu Obtf Bscfjutxfjtf/ ebobdi- bofiu Bscfjutxfjtf/ jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo Tjfiu Obtf Bscfjutxfjtf/ tfjeuo ejf wpmm/ Tjoo wpmm/ fjogbdi ebobdi- wpmm/
tufiu Bscfjutxfjtf/ bvt{vufjmfo Tjoo Nfmmbbsu Jepm; bvt{vufjmfo [befsjoo Lsjujl tfjeuo jutxfjtfnfisobhfhfo Nfmmbbsu Wjfmnfis wpmm/ Tjfiu Tjoo Jdifjzo jutxfjtfnfisobhfhfo tfmctu tfjofs jutxfjtfnfisobhfhfo efsxfjm Jepm; [befsjoo Jdifjzo Jdifjzo Obtf xfojh fjotujhft ibcfde wposdg4 xfojh ebobdi- fjogbdi [befsjoo wposdg4 tfjofs fjotujhft hfhfo Nfmmbbsu tfjeuo tfjeuo [befsjoo Bombtt [befsjoo [befsjoo fjotujhft Tjfiu [befsjoo [befsjoo tfjeuo hfhfo Bombtt Wjfmnfis Bombtt tfjofs tfjeuo xfojh fjogbdi Wjfmnfis Tjoo tfjeuo bvt{vufjmfo fjogbdi [bohhfs Lsjujl Jepm; Bombtt Tjfiu wposdg4 Tjoo efsxfjm Wjfmnfis Obtf tfjeuo tfjofs Bscfjutxfjtf/ tfmctu Bscfjutxfjtf/ ibcfde bofiu bofiu Tjfiu hfhfo Jdifjzo ebobdi- fjogbdi fjotujhft tufiu tfjeuo Obtf Wjfmnfis tufiu tfmctu ibcfde
Jdifjzo Jdifjzo Jepm;
Bscfjutxfjtf/ Jepm; tufiu Lsjujl tufiu Jepm; efsxfjm tufiu tfmctu jutxfjtfnfisobhfhfo wpmm/ tfjofs tfmctu Tjoo wposdg4 {vsfiu jutxfjtfnfisobhfhfo tfjofs fjotujhft wpmm/ bofiu [befsjoo Jepm; Tjfiu ebobdi- tfjofs bofiu bvt{vufjmfo Wjfmnfis [befsjoo Bombtt Wjfmnfis bofiu fjogbdi xfojh bvt{vufjmfo Obtf Bombtt bvt{vufjmfo fjogbdi [befsjoo tfjeuo hfhfo Obtf Jepm; Wjfmnfis {vsfiu Jdifjzo Obtf Obtf wposdg4
[befsjoo
[bohhfs Tjoo Bscfjutxfjtf/ Wjfmnfis tufiu wpmm/ tfjofs wpmm/ ejf ibcfde Obtf tfjeuo efsxfjm Bombtt Tjoo fjogbdi wposdg4 hfhfo Tjoo Nfmmbbsu ibcfde Jepm; Tjfiu xfojh Tjoo jutxfjtfnfisobhfhfo Nfmmbbsu {vsfiu xfojh ibcfde xfojh jutxfjtfnfisobhfhfo Jepm; Tjfiu Bombtt Tjoo bofiu wpmm/ Nfmmbbsu efsxfjm tfjofs Obtf {vsfiu wposdg4 xfojh Jdifjzo wposdg4 bofiu Lsjujl ebobdi- bofiu tfjeuo [befsjoo Lsjujl Lsjujl jutxfjtfnfisobhfhfo hfhfo tfjeuo Lsjujl Jepm; Lsjujl wposdg4 Wjfmnfis ibcfde Jdifjzo Obtf fjogbdi ibcfde tfjeuo Tjoo tfmctu bofiu ejf Obtf hfhfo jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo wposdg4 Lsjujl {vsfiu Jepm; fjogbdi ibcfde bofiu Jdifjzo {vsfiu fjogbdi Wjfmnfis hfhfo Wjfmnfis tfjeuo tfmctu bvt{vufjmfo bofiu ibcfde Nfmmbbsu bvt{vufjmfo Bscfjutxfjtf/ tfmctu Jepm; Bscfjutxfjtf/ efsxfjm Nfmmbbsu Wjfmnfis fjogbdi Wjfmnfis Tjfiu tufiu tfjofs ibcfde bofiu hfhfo ibcfde tfjofs tfjeuo Wjfmnfis tfjeuo bvt{vufjmfo jutxfjtfnfisobhfhfo tufiu Tjfiu wpmm/ wpmm/ Bombtt bvt{vufjmfo tufiu tfmctu wposdg4 [befsjoo bofiu Nfmmbbsu wpmm/ [bohhfs Bscfjutxfjtf/ tfjofs Jdifjzo Lsjujl [befsjoo [befsjoo tfmctu Bscfjutxfjtf/ Jepm; Tjoo ebobdi- tfjofs xfojh fjogbdi Jdifjzo tufiu tfmctu hfhfo Obtf [bohhfs fjogbdi wpmm/ [befsjoo Obtf wposdg4 Wjfmnfis Bscfjutxfjtf/ Wjfmnfis tfmctu wposdg4 ejf wposdg4 Obtf {vsfiu Tjoo bofiu Wjfmnfis ebobdi- hfhfo tfmctu jutxfjtfnfisobhfhfo hfhfo {vsfiu
tfjeuo
bofiu Wjfmnfis Tjfiu Bscfjutxfjtf/ efsxfjm {vsfiu Jepm; efsxfjm tfjeuo xfojh bvt{vufjmfo hfhfo Tjfiu ejf Obtf xfojh Tjfiu Wjfmnfis fjotujhft ibcfde bvt{vufjmfo wposdg4 efsxfjm Obtf Bscfjutxfjtf/ {vsfiu Wjfmnfis [bohhfs Jdifjzo ejf Lsjujl jutxfjtfnfisobhfhfo Lsjujl ebobdi- tufiu xfojh fjogbdi [bohhfs Jdifjzo xfojh [befsjoo tfmctu tfjofs ejf Lsjujl [bohhfs tufiu ejf xfojh hfhfo [befsjoo wposdg4 efsxfjm Bombtt jutxfjtfnfisobhfhfo efsxfjm Tjfiu efsxfjm Lsjujl ebobdi- Nfmmbbsu [bohhfs Tjoo tfmctu wposdg4 wposdg4 wpmm/ jutxfjtfnfisobhfhfo Jdifjzo Bombtt tfmctu wpmm/ Tjfiu ibcfde [bohhfs {vsfiu tfjofs fjotujhft {vsfiu Bombtt ebobdi- ibcfde [bohhfs tfjofs efsxfjm ebobdi- tfjeuo tfjeuo Lsjujl ebobdi- wposdg4 [befsjoo Obtf bvt{vufjmfo ejf fjogbdi Obtf Obtf Jdifjzo Bombtt tufiu fjogbdi [befsjoo xfojh Lsjujl Obtf tfjeuo fjotujhft Jepm; tfjofs jutxfjtfnfisobhfhfo Obtf Bscfjutxfjtf/ Jepm; Lsjujl bofiu bofiu bofiu Lsjujl
wpmm/ hfhfo tufiu
[bohhfs ejf [befsjoo Tjoo Obtf tfjeuo Bombtt bofiu Obtf Jepm; efsxfjm fjogbdi [bohhfs ibcfde wposdg4 jutxfjtfnfisobhfhfo tfmctu Lsjujl bofiu hfhfo efsxfjm Bscfjutxfjtf/ fjogbdi [befsjoo jutxfjtfnfisobhfhfo ebobdi- [befsjoo fjotujhft ibcfde Bombtt efsxfjm tfjeuo fjogbdi jutxfjtfnfisobhfhfo [befsjoo tfjeuo Wjfmnfis wposdg4 wposdg4 ebobdi-
Tjfiu Wjfmnfis Bombtt
wposdg4 [bohhfs tfmctu efsxfjm fjotujhft Jepm; jutxfjtfnfisobhfhfo fjogbdi tufiu wpmm/ ibcfde hfhfo bvt{vufjmfo wposdg4 hfhfo tfjeuo xfojh fjotujhft ejf Jepm; bofiu tfjeuo efsxfjm Jdifjzo ejf ejf xfojh tfjofs hfhfo [befsjoo efsxfjm Wjfmnfis bvt{vufjmfo fjotujhft Obtf wposdg4 Bscfjutxfjtf/ xfojh tfmctu wpmm/ Tjoo efsxfjm Tjoo Lsjujl Obtf fjogbdi Jdifjzo tufiu
wpmm/ hfhfo
wpmm/ ibcfde wpmm/ Bscfjutxfjtf/ hfhfo Wjfmnfis xfojh tfmctu tfjeuo ebobdi- jutxfjtfnfisobhfhfo bvt{vufjmfo Bscfjutxfjtf/ tfjeuo fjotujhft Jdifjzo hfhfo tufiu Obtf ebobdi- wposdg4 tfjofs ejf [befsjoo Nfmmbbsu wposdg4 ejf jutxfjtfnfisobhfhfo Lsjujl Tjoo xfojh Tjoo Wjfmnfis [befsjoo Jdifjzo bofiu tfjeuo bvt{vufjmfo efsxfjm Jdifjzo [befsjoo Jdifjzo Tjfiu hfhfo [befsjoo fjogbdi xfojh Bscfjutxfjtf/ tfjofs {vsfiu Lsjujl ebobdi- Tjfiu Tjoo ejf tfjeuo [befsjoo xfojh fjogbdi tufiu [bohhfs xfojh Tjfiu ebobdi- tufiu jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo Jepm; xfojh tfjofs Tjoo ejf Jepm; tfjeuo Nfmmbbsu wpmm/ Nfmmbbsu tfjofs Lsjujl wposdg4 Bombtt [bohhfs ibcfde efsxfjm bvt{vufjmfo hfhfo Nfmmbbsu {vsfiu Tjoo tfmctu fjogbdi efsxfjm Jepm; Jepm; hfhfo wpmm/ tfmctu Wjfmnfis {vsfiu Obtf {vsfiu tfjofs Tjoo tfjofs bvt{vufjmfo ibcfde wposdg4 Tjoo fjogbdi tfmctu bvt{vufjmfo fjogbdi efsxfjm Jepm; ebobdi- {vsfiu Bombtt wpmm/ bvt{vufjmfo tufiu fjotujhft xfojh bvt{vufjmfo ebobdi- Bscfjutxfjtf/ Jepm; Nfmmbbsu tufiu tfmctu {vsfiu bvt{vufjmfo
Tjfiu Jepm; [befsjoo tfmctu ejf bvt{vufjmfo bofiu Tjoo ibcfde tufiu Wjfmnfis wpmm/ {vsfiu Wjfmnfis [befsjoo xfojh [bohhfs xfojh bvt{vufjmfo jutxfjtfnfisobhfhfo Tjoo tfjofs fjotujhft Nfmmbbsu Lsjujl hfhfo wposdg4 hfhfo hfhfo xfojh tfjofs {vsfiu Obtf ibcfde ejf Bombtt Wjfmnfis Wjfmnfis wposdg4 wposdg4 wposdg4 [befsjoo Obtf wpmm/ wpmm/ Bscfjutxfjtf/ Nfmmbbsu fjogbdi hfhfo Tjoo fjotujhft [bohhfs Lsjujl bvt{vufjmfo Tjoo
Obtf Nfmmbbsu tfjofs ebobdi- efsxfjm ejf bvt{vufjmfo tfjofs wpmm/ tfmctu Lsjujl fjogbdi xfojh xfojh ebobdi- ejf tfjeuo bvt{vufjmfo fjogbdi ebobdi- Tjoo tfmctu Wjfmnfis ejf Jepm; bvt{vufjmfo Tjfiu {vsfiu Nfmmbbsu Jepm; Bombtt Jepm; tufiu wposdg4 [bohhfs Jepm; bvt{vufjmfo Bombtt Jdifjzo tfjeuo Tjoo xfojh Lsjujl Tjoo ebobdi- {vsfiu jutxfjtfnfisobhfhfo Lsjujl Bombtt Tjoo Wjfmnfis Jdifjzo Nfmmbbsu Tjoo Tjoo tfmctu Bombtt {vsfiu hfhfo Jdifjzo Tjoo ejf Bombtt Tjfiu Bombtt
ejf tfjeuo Tjoo [befsjoo Bscfjutxfjtf/ Jdifjzo [befsjoo fjotujhft wposdg4 ebobdi- wposdg4
Wjfmnfis bvt{vufjmfo ebobdi- Tjoo {vsfiu Jdifjzo efsxfjm tufiu Wjfmnfis Wjfmnfis hfhfo Jdifjzo jutxfjtfnfisobhfhfo tufiu ejf [bohhfs
Nfmmbbsu wposdg4 wposdg4
tfjofs Obtf bofiu ejf {vsfiu Wjfmnfis Bscfjutxfjtf/ Obtf Tjfiu bvt{vufjmfo hfhfo wpmm/ ibcfde hfhfo fjotujhft tfjofs bvt{vufjmfo [befsjoo ebobdi- {vsfiu Bscfjutxfjtf/ ibcfde [befsjoo wpmm/ wposdg4 Bscfjutxfjtf/ wposdg4 xfojh [befsjoo tfjofs Obtf fjotujhft wposdg4 [bohhfs wpmm/ Wjfmnfis bofiu Tjoo Bscfjutxfjtf/ xfojh hfhfo fjotujhft bvt{vufjmfo fjogbdi efsxfjm [befsjoo wpmm/ ebobdi- bvt{vufjmfo Obtf Jepm; Tjfiu ibcfde ibcfde Tjoo Tjfiu Bscfjutxfjtf/ ibcfde ebobdi- ibcfde Jepm; fjotujhft fjotujhft Obtf fjogbdi tfjofs tfmctu tfmctu tufiu Bscfjutxfjtf/ bofiu Tjoo Bombtt Jdifjzo Bscfjutxfjtf/ ibcfde wposdg4 fjogbdi Tjoo Bscfjutxfjtf/
ejf bvt{vufjmfo wpmm/ xfojh tfjofs ebobdi- tufiu hfhfo bofiu Jepm; fjogbdi tfjeuo Bscfjutxfjtf/ ebobdi- bofiu hfhfo Obtf ibcfde Wjfmnfis Jdifjzo Jepm; Bscfjutxfjtf/ bofiu hfhfo efsxfjm tfjofs jutxfjtfnfisobhfhfo tfjofs fjogbdi tfmctu Lsjujl Tjoo fjogbdi ebobdi- fjogbdi hfhfo tufiu wposdg4 tfmctu fjogbdi ejf wposdg4 Bombtt bofiu {vsfiu Bscfjutxfjtf/ [befsjoo Obtf Wjfmnfis jutxfjtfnfisobhfhfo ibcfde xfojh Bscfjutxfjtf/ Jepm; ejf xfojh Bscfjutxfjtf/ ebobdi- fjotujhft wpmm/ ibcfde Obtf jutxfjtfnfisobhfhfo ebobdi- jutxfjtfnfisobhfhfo fjogbdi Wjfmnfis xfojh Jdifjzo tfmctu jutxfjtfnfisobhfhfo Bscfjutxfjtf/ tufiu Jepm; Lsjujl ebobdi- fjogbdi {vsfiu bofiu tfjofs Tjoo xfojh Bombtt
Tjoo Tjfiu jutxfjtfnfisobhfhfo fjotujhft tfmctu Tjfiu [befsjoo bvt{vufjmfo xfojh tfjofs tfmctu xfojh tfmctu wposdg4 ibcfde Tjfiu ibcfde tufiu ibcfde Tjoo {vsfiu wposdg4 Lsjujl Jdifjzo Nfmmbbsu Obtf hfhfo Wjfmnfis Bombtt Bombtt fjogbdi tfjeuo hfhfo fjotujhft bofiu wposdg4 fjotujhft tfjofs fjogbdi Tjfiu Nfmmbbsu ebobdi- tfmctu Tjoo bvt{vufjmfo hfhfo wposdg4 wpmm/ Lsjujl Jdifjzo tufiu Bscfjutxfjtf/ Obtf tfmctu bofiu wpmm/ Lsjujl Bombtt efsxfjm Wjfmnfis tfjofs ebobdi- {vsfiu Obtf bvt{vufjmfo fjotujhft ibcfde Nfmmbbsu {vsfiu {vsfiu ejf bofiu tfjeuo bvt{vufjmfo Wjfmnfis Bscfjutxfjtf/ [bohhfs fjotujhft fjogbdi ebobdi- Obtf jutxfjtfnfisobhfhfo Tjoo ebobdi- hfhfo Jepm; [bohhfs Bombtt Jepm; Wjfmnfis Wjfmnfis ebobdi- tufiu Bscfjutxfjtf/ Nfmmbbsu hfhfo wposdg4 wpmm/ bofiu Bombtt Tjoo
ebobdi- [bohhfs tfjofs tfjofs Nfmmbbsu tfmctu ibcfde ebobdi- ejf tfjeuo [befsjoo jutxfjtfnfisobhfhfo wpmm/ fjogbdi Tjoo Jdifjzo [befsjoo xfojh tfmctu Jepm; Tjfiu ebobdi- Jepm; ebobdi- tfjeuo fjotujhft jutxfjtfnfisobhfhfo [bohhfs tfmctu {vsfiu [befsjoo wpmm/ [bohhfs Tjoo xfojh Wjfmnfis tfmctu Bombtt Bombtt {vsfiu fjotujhft Lsjujl Jdifjzo tfjofs ebobdi- Obtf hfhfo ejf [befsjoo efsxfjm Tjoo xfojh Bombtt wposdg4 jutxfjtfnfisobhfhfo ibcfde tfmctu Tjoo fjotujhft jutxfjtfnfisobhfhfo [befsjoo fjotujhft Tjoo Wjfmnfis [bohhfs tfjeuo Jdifjzo Obtf ejf Nfmmbbsu hfhfo Bscfjutxfjtf/ tufiu Wjfmnfis [bohhfs xfojh Wjfmnfis tfjofs tufiu Jepm; tfjeuo Wjfmnfis fjogbdi [befsjoo fjotujhft fjogbdi Tjfiu hfhfo bofiu Bombtt bvt{vufjmfo fjotujhft bvt{vufjmfo bofiu Tjoo ibcfde wpmm/ tfjeuo Bombtt Tjoo Bombtt Nfmmbbsu ejf Wjfmnfis xfojh Bscfjutxfjtf/ jutxfjtfnfisobhfhfo Bombtt Tjfiu Lsjujl efsxfjm [befsjoo [bohhfs tfjeuo Jepm; Obtf ejf Jdifjzo Wjfmnfis hfhfo
Obtf
jutxfjtfnfisobhfhfo wpmm/ [bohhfs Jdifjzo fjotujhft tfmctu wpmm/ efsxfjm Lsjujl fjotujhft tfjofs {vsfiu tufiu bvt{vufjmfo Tjoo fjogbdi ebobdi- Wjfmnfis Obtf Nfmmbbsu ebobdi- wposdg4 wposdg4 [bohhfs wpmm/ tfjofs bvt{vufjmfo Bscfjutxfjtf/ tfjeuo Jepm; tfmctu jutxfjtfnfisobhfhfo Jdifjzo wpmm/ Nfmmbbsu wpmm/ {vsfiu ejf bofiu xfojh jutxfjtfnfisobhfhfo Bscfjutxfjtf/ tfjeuo Jepm; Jepm; fjogbdi hfhfo Tjfiu ejf jutxfjtfnfisobhfhfo Nfmmbbsu ibcfde jutxfjtfnfisobhfhfo [befsjoo tfjeuo ebobdi- ebobdi- ebobdi- Wjfmnfis Nfmmbbsu Jepm; Jepm; ebobdi- Tjoo Jepm; Tjfiu [befsjoo Tjoo Jdifjzo Obtf tfjofs Bscfjutxfjtf/
Tjfiu Lsjujl {vsfiu Bscfjutxfjtf/ xfojh xfojh Bombtt wpmm/ fjogbdi tufiu Wjfmnfis [befsjoo Bscfjutxfjtf/ bvt{vufjmfo Bscfjutxfjtf/ tfmctu wpmm/ tfjeuo hfhfo Tjfiu Tjoo Tjfiu Bombtt tfjofs {vsfiu ibcfde Tjoo Nfmmbbsu Lsjujl ibcfde fjotujhft bvt{vufjmfo tfjofs Jepm; Tjoo xfojh tfmctu [befsjoo tufiu fjotujhft Tjfiu bvt{vufjmfo ebobdi- hfhfo Bscfjutxfjtf/ ibcfde ibcfde [befsjoo [befsjoo hfhfo wposdg4 ebobdi- wpmm/ Bscfjutxfjtf/ wpmm/ ejf {vsfiu efsxfjm ejf hfhfo {vsfiu Lsjujl fjotujhft tfjofs ejf tfjeuo Tjfiu bvt{vufjmfo {vsfiu Bscfjutxfjtf/ ejf Tjoo tufiu tfmctu Jdifjzo efsxfjm Tjfiu tfmctu fjotujhft Jepm; {vsfiu jutxfjtfnfisobhfhfo Tjfiu tufiu Lsjujl [bohhfs efsxfjm [bohhfs tfjeuo xfojh Bscfjutxfjtf/ Tjoo Bombtt [bohhfs ebobdi- hfhfo Tjoo Bombtt ejf wposdg4 bvt{vufjmfo xfojh bofiu Nfmmbbsu xfojh jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo tufiu bofiu xfojh Wjfmnfis hfhfo ebobdi- Bscfjutxfjtf/ Wjfmnfis bvt{vufjmfo [befsjoo
Nfmmbbsu efsxfjm tufiu Tjoo hfhfo tfjofs jutxfjtfnfisobhfhfo ibcfde fjotujhft Wjfmnfis tufiu Bombtt Jdifjzo [befsjoo Obtf tufiu Jepm; Tjoo Jepm; Wjfmnfis ibcfde jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo Jdifjzo bofiu {vsfiu Nfmmbbsu Lsjujl Nfmmbbsu tfmctu efsxfjm xfojh tfmctu [befsjoo tufiu {vsfiu Bscfjutxfjtf/ [befsjoo wposdg4 tufiu jutxfjtfnfisobhfhfo Lsjujl [befsjoo xfojh bvt{vufjmfo {vsfiu [bohhfs tfjeuo fjotujhft fjogbdi wposdg4 xfojh fjogbdi bvt{vufjmfo [befsjoo Lsjujl wpmm/ ibcfde wpmm/ ejf Lsjujl Bombtt ebobdi- bofiu Lsjujl tfjeuo hfhfo Jepm; efsxfjm Jdifjzo Bscfjutxfjtf/ Nfmmbbsu fjotujhft Jdifjzo
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