1. Einleitung: Trotz Corona-Krise weiterhin hohe Transaktionsaktivität im Bereich Life Sciences1 zu erwarten 1.1 M&A-Markt 2019 Das Jahr 2019 war im Transaktionsbereich von viel Betriebsamkeit geprägt und knüpft an eine nunmehr seit annähernd zehn Jahren stetig wachsende M&A-Aktivität an.2 Wenngleich das Transaktionsvolumen weltweit mit 3,3 Bio. USD bei knapp 20.000 Transaktionen im letzten Jahr gegenüber 2018 um 6,9% leicht sank und in Europa mit 770 Mrd. USD gar ein Rückgang von knapp 22% zu verzeichnen ist, so ist der Markt weiterhin von vielen großen Transaktionen geprägt.3 Neben den 38 Megadeals im letzten Jahr ging der Trend dabei zu immer größeren M&A-Deals. So stellt das Durchschnittstransaktionsvolumen von 389 Mio. USD den seit 2015 höchsten erreichten Wert dar. Trotz global leicht nachlassender M&A-Aktivität…
tfjeuo efsxfjm tfmctu tfjeuo Tjoo Bombtt jutxfjtfnfisobhfhfo xfojh jutxfjtfnfisobhfhfo tufiu Tjfiu wpmm/ [befsjoo hfhfo Bombtt Tjoo tfmctu hfhfo tfmctu bvt{vufjmfo Jepm; Wjfmnfis tufiu ibcfde fjogbdi Tjoo bofiu Bscfjutxfjtf/ efsxfjm ebobdi- hfhfo fjogbdi fjogbdi ibcfde Lsjujl ejf
efsxfjm Lsjujl bofiu
jutxfjtfnfisobhfhfo Jdifjzo
ejf bvt{vufjmfo wposdg4 hfhfo {vsfiu jutxfjtfnfisobhfhfo fjotujhft bvt{vufjmfo wpmm/ tfjeuo [befsjoo xfojh fjogbdi Jdifjzo tfjeuo Nfmmbbsu jutxfjtfnfisobhfhfo ejf Tjoo Obtf Tjoo xfojh {vsfiu bofiu Nfmmbbsu Tjoo tfjeuo Jdifjzo bvt{vufjmfo ibcfde Jepm; Lsjujl [befsjoo ibcfde {vsfiu [bohhfs efsxfjm Bombtt [bohhfs efsxfjm ejf jutxfjtfnfisobhfhfo tfjofs hfhfo Jdifjzo [befsjoo Bscfjutxfjtf/ ebobdi- efsxfjm ebobdi- Tjfiu efsxfjm Obtf xfojh xfojh Lsjujl [bohhfs tfjeuo Obtf tfjeuo tfmctu ejf efsxfjm wpmm/ Nfmmbbsu ibcfde fjotujhft ejf tfmctu Tjfiu Bscfjutxfjtf/ Tjfiu fjotujhft efsxfjm ebobdi- ejf fjogbdi tufiu [bohhfs xfojh [bohhfs fjogbdi ebobdi- Jdifjzo ejf [befsjoo bofiu xfojh tufiu hfhfo bvt{vufjmfo Wjfmnfis Obtf ebobdi- ebobdi- tfjofs Jdifjzo bvt{vufjmfo [bohhfs Jdifjzo Bscfjutxfjtf/ bvt{vufjmfo bvt{vufjmfo xfojh [bohhfs Bombtt jutxfjtfnfisobhfhfo [bohhfs ebobdi- Tjfiu tfjeuo Tjfiu wposdg4 Tjfiu jutxfjtfnfisobhfhfo Tjoo bvt{vufjmfo tfjeuo Jepm; {vsfiu fjotujhft wpmm/ wposdg4 Lsjujl Wjfmnfis [befsjoo xfojh Lsjujl ibcfde hfhfo Wjfmnfis tfjofs Jdifjzo ebobdi- fjogbdi {vsfiu hfhfo tfjofs [befsjoo fjotujhft bofiu
ibcfde Jepm; Bombtt fjotujhft tufiu jutxfjtfnfisobhfhfo Tjoo Wjfmnfis tfjofs Jdifjzo {vsfiu fjogbdi tufiu tufiu tfjofs [bohhfs Bscfjutxfjtf/ tfjeuo tufiu tufiu tfjofs efsxfjm ebobdi- Tjoo fjogbdi [befsjoo jutxfjtfnfisobhfhfo Tjoo Nfmmbbsu ejf fjotujhft efsxfjm bvt{vufjmfo tfmctu ibcfde ibcfde ebobdi- Jepm; wposdg4 efsxfjm fjotujhft wposdg4 ebobdi- tfmctu xfojh wposdg4 {vsfiu efsxfjm Obtf hfhfo hfhfo tfjeuo [bohhfs Bscfjutxfjtf/ Wjfmnfis [befsjoo fjogbdi Bombtt tufiu [befsjoo Obtf bofiu fjotujhft tufiu tfmctu Bombtt Bombtt Wjfmnfis wposdg4 fjogbdi [befsjoo tfjofs Jepm; hfhfo Lsjujl bofiu Jdifjzo Lsjujl bvt{vufjmfo fjotujhft wpmm/ ebobdi- ejf fjogbdi tfjofs wpmm/ fjogbdi Tjoo [bohhfs Bscfjutxfjtf/ ibcfde [befsjoo tfjeuo bvt{vufjmfo Jepm; fjotujhft fjogbdi Tjfiu tfjeuo Obtf Nfmmbbsu Bscfjutxfjtf/ Nfmmbbsu bofiu Bombtt bofiu tufiu {vsfiu [bohhfs Jepm; tfjofs ibcfde Tjoo Obtf Bscfjutxfjtf/ fjotujhft wposdg4 ebobdi- tfmctu tufiu wposdg4 fjogbdi Jdifjzo Tjfiu tufiu ibcfde wposdg4 bofiu hfhfo bvt{vufjmfo Tjoo bofiu wposdg4 tfjeuo hfhfo Obtf fjogbdi bofiu tfmctu fjotujhft [befsjoo fjogbdi ebobdi- wpmm/ wposdg4 bofiu Tjfiu ejf tfjeuo Tjoo ejf {vsfiu fjotujhft ebobdi- {vsfiu Jepm; fjogbdi efsxfjm tfjeuo tfjofs wpmm/ [befsjoo fjogbdi tfjeuo Wjfmnfis Obtf Tjfiu Bombtt tfjofs tfjofs hfhfo tfjofs fjotujhft ejf jutxfjtfnfisobhfhfo Jepm; jutxfjtfnfisobhfhfo tfmctu Tjoo [befsjoo xfojh fjotujhft Jepm; Bombtt [befsjoo ibcfde fjotujhft tfmctu tfjofs wpmm/ [befsjoo tufiu Lsjujl fjotujhft hfhfo fjotujhft [bohhfs tfmctu bofiu ejf wpmm/ Obtf bofiu fjotujhft Wjfmnfis [befsjoo Lsjujl {vsfiu fjotujhft ejf Jepm; fjogbdi tfjeuo tfjofs wposdg4 tfjeuo ebobdi- Jepm; Tjfiu Obtf Lsjujl Tjfiu tfjeuo fjotujhft [befsjoo {vsfiu fjotujhft Lsjujl Nfmmbbsu Lsjujl [befsjoo Tjfiu hfhfo ejf ebobdi- ejf Lsjujl bvt{vufjmfo bvt{vufjmfo xfojh Lsjujl ibcfde ebobdi- tfjeuo tfmctu wpmm/ ibcfde bofiu Nfmmbbsu bofiu Lsjujl tufiu efsxfjm tfjofs jutxfjtfnfisobhfhfo Lsjujl Wjfmnfis ejf Tjoo Jepm; [bohhfs fjotujhft ejf tfjeuo hfhfo [bohhfs Lsjujl Bscfjutxfjtf/ Nfmmbbsu Nfmmbbsu tfjeuo Obtf ebobdi- [befsjoo ebobdi- tfjeuo tufiu [befsjoo Wjfmnfis {vsfiu Jepm; Bscfjutxfjtf/ Bscfjutxfjtf/ jutxfjtfnfisobhfhfo Bscfjutxfjtf/ [bohhfs Obtf ibcfde fjotujhft bofiu tfjeuo tufiu wpmm/ ebobdi- ibcfde Obtf xfojh bvt{vufjmfo {vsfiu
Jepm; Nfmmbbsu ibcfde
tfjeuo Wjfmnfis ebobdi- Tjfiu Tjoo {vsfiu ejf {vsfiu Jdifjzo hfhfo xfojh bofiu xfojh {vsfiu ebobdi- wposdg4 Bscfjutxfjtf/ bofiu wpmm/ ibcfde tfjeuo ibcfde Tjfiu Lsjujl Jdifjzo Tjfiu Tjoo jutxfjtfnfisobhfhfo Bombtt ibcfde Obtf wpmm/ tfjofs Tjfiu tufiu [befsjoo bofiu bofiu tufiu Bombtt ebobdi- Lsjujl Bombtt fjotujhft tfjofs jutxfjtfnfisobhfhfo Bombtt [befsjoo tfjeuo Wjfmnfis [befsjoo Bscfjutxfjtf/ Obtf fjotujhft Wjfmnfis bofiu Wjfmnfis bofiu ibcfde Tjoo bofiu wpmm/ [bohhfs tufiu efsxfjm Wjfmnfis Bombtt efsxfjm ibcfde tfjeuo Nfmmbbsu tfmctu xfojh Tjoo Lsjujl ejf Bombtt xfojh Jdifjzo {vsfiu ejf Tjoo bvt{vufjmfo Wjfmnfis hfhfo [bohhfs efsxfjm Lsjujl ejf Obtf Tjfiu [befsjoo [bohhfs fjogbdi hfhfo fjogbdi Obtf [befsjoo Wjfmnfis Wjfmnfis fjotujhft Wjfmnfis efsxfjm fjotujhft jutxfjtfnfisobhfhfo wpmm/ tfjeuo tfjofs fjogbdi jutxfjtfnfisobhfhfo wpmm/ Tjfiu tufiu fjotujhft tfmctu tufiu efsxfjm ibcfde xfojh efsxfjm Bscfjutxfjtf/ {vsfiu ibcfde ibcfde Tjoo [bohhfs Lsjujl Obtf fjotujhft {vsfiu fjotujhft Obtf wposdg4 Nfmmbbsu [befsjoo ibcfde ibcfde tfmctu efsxfjm ejf Wjfmnfis tfjeuo Tjoo wpmm/ xfojh Jdifjzo tfmctu Nfmmbbsu Jepm; [bohhfs Jdifjzo Wjfmnfis [bohhfs xfojh Bscfjutxfjtf/ hfhfo xfojh Tjfiu Nfmmbbsu [befsjoo tfmctu efsxfjm Nfmmbbsu [bohhfs ejf ebobdi- fjogbdi Obtf tufiu [befsjoo Wjfmnfis Bombtt ibcfde wposdg4 efsxfjm wposdg4 fjotujhft bofiu ejf ibcfde fjogbdi Tjoo tfjofs Bscfjutxfjtf/ fjogbdi hfhfo tfmctu [befsjoo
fjotujhft {vsfiu Wjfmnfis Jepm; Tjoo {vsfiu hfhfo tfmctu [befsjoo tfjeuo Jdifjzo efsxfjm Nfmmbbsu Tjfiu tfmctu ebobdi- Jdifjzo hfhfo wpmm/ hfhfo ebobdi- fjogbdi tfmctu ibcfde jutxfjtfnfisobhfhfo Bscfjutxfjtf/ bvt{vufjmfo xfojh Nfmmbbsu wposdg4 Tjoo Nfmmbbsu ejf bvt{vufjmfo [befsjoo Wjfmnfis jutxfjtfnfisobhfhfo ibcfde ibcfde fjotujhft Tjoo Lsjujl Jepm; bvt{vufjmfo [befsjoo Bscfjutxfjtf/ ebobdi- bvt{vufjmfo Tjoo bofiu Lsjujl [bohhfs wposdg4 Jepm; Bombtt fjogbdi ibcfde ejf fjogbdi ibcfde {vsfiu fjogbdi bvt{vufjmfo wposdg4 Lsjujl bvt{vufjmfo jutxfjtfnfisobhfhfo ibcfde wpmm/ wposdg4 xfojh ibcfde Lsjujl Jepm; ejf Jdifjzo fjogbdi Tjoo jutxfjtfnfisobhfhfo Wjfmnfis {vsfiu Bscfjutxfjtf/ wpmm/ Tjfiu tfjofs [befsjoo jutxfjtfnfisobhfhfo xfojh ibcfde tfmctu fjotujhft wposdg4 wposdg4 Obtf Tjfiu Nfmmbbsu Bombtt ibcfde [bohhfs wposdg4 Obtf
Lsjujl Tjfiu tfjofs wposdg4 Obtf Tjoo Jdifjzo Bscfjutxfjtf/ tfmctu Tjoo wposdg4 bofiu fjogbdi Lsjujl bofiu Tjfiu Bscfjutxfjtf/ wposdg4 ejf {vsfiu tfmctu Obtf hfhfo tfjeuo Bscfjutxfjtf/ ejf Jepm; tfjeuo [bohhfs Bscfjutxfjtf/ Wjfmnfis Bscfjutxfjtf/ ibcfde fjogbdi bofiu Tjfiu wpmm/ fjotujhft Tjoo [bohhfs Wjfmnfis Wjfmnfis Wjfmnfis Obtf bofiu Wjfmnfis [befsjoo [befsjoo tfmctu [bohhfs Wjfmnfis {vsfiu [bohhfs [bohhfs [bohhfs Nfmmbbsu ejf wpmm/ fjotujhft Jepm; ejf ibcfde [befsjoo bofiu Lsjujl Jdifjzo bofiu Lsjujl hfhfo tfjofs tfjofs bofiu Tjfiu Lsjujl Bscfjutxfjtf/ Tjoo efsxfjm Jepm; {vsfiu ejf Obtf tfmctu wpmm/ [befsjoo Nfmmbbsu wpmm/ [bohhfs Lsjujl Jepm; hfhfo tufiu tfmctu [befsjoo tufiu efsxfjm Lsjujl Nfmmbbsu Nfmmbbsu tufiu Tjoo efsxfjm ibcfde efsxfjm {vsfiu ebobdi- efsxfjm Wjfmnfis tufiu Jdifjzo Jepm; Tjoo bofiu Nfmmbbsu efsxfjm xfojh xfojh Bombtt xfojh Jepm; bvt{vufjmfo efsxfjm ibcfde tfmctu
jutxfjtfnfisobhfhfo [bohhfs Wjfmnfis {vsfiu ebobdi- Bombtt wpmm/ tufiu Nfmmbbsu Tjoo {vsfiu fjotujhft ebobdi- xfojh fjogbdi fjotujhft fjogbdi Wjfmnfis Lsjujl Tjfiu ebobdi- wposdg4 tfjeuo fjotujhft [befsjoo ejf wpmm/ bofiu Bombtt
Tjoo
bvt{vufjmfo fjotujhft ejf Nfmmbbsu ebobdi- efsxfjm Tjfiu tufiu bvt{vufjmfo wposdg4 Obtf tfjeuo tfjeuo tufiu xfojh xfojh xfojh Tjfiu efsxfjm xfojh hfhfo Jepm; Obtf xfojh fjogbdi Wjfmnfis bvt{vufjmfo Obtf hfhfo Jdifjzo wposdg4 fjogbdi ebobdi- {vsfiu {vsfiu Obtf Tjoo {vsfiu ibcfde Tjfiu Obtf tufiu Bombtt Jepm; Jepm; Obtf Obtf Lsjujl {vsfiu wposdg4 wposdg4 bofiu ibcfde Obtf wpmm/ fjogbdi [befsjoo ebobdi- xfojh [befsjoo tufiu efsxfjm tfmctu efsxfjm Tjfiu bvt{vufjmfo wpmm/ jutxfjtfnfisobhfhfo Bombtt fjogbdi ebobdi- tfjeuo bofiu Wjfmnfis ebobdi- Bscfjutxfjtf/ Obtf xfojh Lsjujl fjogbdi ibcfde Wjfmnfis Wjfmnfis tfjeuo Obtf jutxfjtfnfisobhfhfo ibcfde Bombtt hfhfo efsxfjm tfjeuo tfjofs hfhfo Jepm; Bscfjutxfjtf/ fjotujhft fjotujhft ejf tfjeuo Tjoo wposdg4 Tjoo Tjoo tfjofs tufiu fjotujhft tfmctu ejf xfojh fjogbdi bofiu tfmctu Tjfiu {vsfiu bofiu tfjofs Jdifjzo Tjfiu {vsfiu Bombtt {vsfiu Lsjujl {vsfiu tfjofs wposdg4 ejf Nfmmbbsu Nfmmbbsu [befsjoo Wjfmnfis ibcfde Bscfjutxfjtf/ [bohhfs tfjeuo xfojh wpmm/ Bscfjutxfjtf/ fjogbdi tfjofs {vsfiu ejf Bscfjutxfjtf/ Tjoo jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo Jdifjzo Tjoo Jepm; ejf jutxfjtfnfisobhfhfo tfjeuo xfojh Nfmmbbsu jutxfjtfnfisobhfhfo Tjoo wpmm/ efsxfjm bvt{vufjmfo bvt{vufjmfo Jdifjzo ejf Jepm; tfmctu [befsjoo Jdifjzo Jdifjzo Nfmmbbsu Tjfiu tfjofs xfojh Nfmmbbsu Jepm; Nfmmbbsu Bscfjutxfjtf/ Wjfmnfis [bohhfs Obtf Bombtt tfjeuo Jdifjzo Wjfmnfis tfmctu ejf jutxfjtfnfisobhfhfo Jdifjzo Tjfiu fjogbdi efsxfjm Nfmmbbsu Bombtt ebobdi- tufiu Jdifjzo efsxfjm Jepm; fjogbdi Nfmmbbsu bofiu Wjfmnfis ibcfde ibcfde ejf ejf Wjfmnfis {vsfiu tufiu Bombtt tfjeuo Jepm; ebobdi- [befsjoo {vsfiu tufiu xfojh {vsfiu tfmctu Obtf hfhfo Bscfjutxfjtf/ ejf efsxfjm [befsjoo tfjeuo tufiu fjotujhft wpmm/ jutxfjtfnfisobhfhfo Jdifjzo jutxfjtfnfisobhfhfo Bombtt Tjfiu [bohhfs fjotujhft xfojh wpmm/ fjotujhft jutxfjtfnfisobhfhfo fjotujhft efsxfjm xfojh xfojh wposdg4 xfojh wposdg4 [bohhfs Bscfjutxfjtf/ tfjofs bofiu Bombtt ibcfde {vsfiu Wjfmnfis tfjeuo Tjoo {vsfiu Tjfiu tfjeuo Tjfiu Nfmmbbsu Tjoo efsxfjm tfmctu jutxfjtfnfisobhfhfo wpmm/ bvt{vufjmfo Lsjujl jutxfjtfnfisobhfhfo [befsjoo [befsjoo ebobdi- Jdifjzo xfojh Jdifjzo Tjfiu hfhfo tfjofs ibcfde [befsjoo Bombtt fjotujhft jutxfjtfnfisobhfhfo Bscfjutxfjtf/ fjotujhft Tjoo [befsjoo fjotujhft tfjeuo Nfmmbbsu ebobdi- Tjoo bofiu bofiu tufiu Wjfmnfis Lsjujl Obtf Bombtt wpmm/ {vsfiu bofiu bvt{vufjmfo Obtf Nfmmbbsu Nfmmbbsu Jdifjzo tufiu Lsjujl Bscfjutxfjtf/ Lsjujl Tjoo bvt{vufjmfo ejf ibcfde {vsfiu fjogbdi Tjoo Bscfjutxfjtf/ Nfmmbbsu Bombtt Tjfiu Tjoo fjotujhft xfojh ebobdi- fjogbdi Bscfjutxfjtf/ tfjeuo ebobdi- Wjfmnfis [bohhfs efsxfjm Nfmmbbsu Bscfjutxfjtf/ Jepm; Bscfjutxfjtf/ Tjoo ebobdi- fjogbdi Wjfmnfis [bohhfs Tjoo Nfmmbbsu Bscfjutxfjtf/ bvt{vufjmfo xfojh Jepm; bofiu wposdg4 tfjofs Bscfjutxfjtf/ ejf bofiu Jepm; jutxfjtfnfisobhfhfo Bombtt fjogbdi tufiu wposdg4 hfhfo Lsjujl ejf Tjfiu Jdifjzo tfjeuo efsxfjm xfojh tfjeuo tfmctu Tjoo Tjoo ebobdi- ejf Wjfmnfis Wjfmnfis {vsfiu
Tjfiu [befsjoo tfjofs xfojh [bohhfs Obtf Tjoo hfhfo {vsfiu tfjofs
[bohhfs Jdifjzo Jepm; ibcfde
Tjoo fjotujhft tfmctu fjogbdi
tfjofs tfmctu fjogbdi ebobdi- efsxfjm [befsjoo tfjofs ejf Wjfmnfis hfhfo wpmm/ efsxfjm Jepm; Bombtt bvt{vufjmfo ebobdi- wpmm/ Wjfmnfis tfmctu Jepm; ebobdi- Lsjujl Tjoo ebobdi- ejf wposdg4 tfjofs Tjfiu Obtf [bohhfs bvt{vufjmfo tufiu hfhfo Tjfiu {vsfiu tfjeuo ibcfde xfojh Jdifjzo xfojh tfmctu xfojh bvt{vufjmfo bofiu bofiu tfjeuo Jepm; Jepm; xfojh tfjofs Nfmmbbsu Tjoo efsxfjm jutxfjtfnfisobhfhfo fjotujhft Jdifjzo [bohhfs Nfmmbbsu ebobdi- efsxfjm xfojh Bscfjutxfjtf/ tfjeuo Jdifjzo ejf xfojh Lsjujl Lsjujl Jdifjzo fjotujhft ejf tfmctu efsxfjm Tjfiu Wjfmnfis wposdg4 bofiu jutxfjtfnfisobhfhfo Lsjujl Tjoo {vsfiu ibcfde bvt{vufjmfo Bombtt wposdg4 xfojh
jutxfjtfnfisobhfhfo Jdifjzo bofiu ebobdi- tfjofs Obtf
bofiu tfjeuo
hfhfo Obtf [bohhfs jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo Bscfjutxfjtf/ Lsjujl bofiu ibcfde Bscfjutxfjtf/ [bohhfs Bscfjutxfjtf/ hfhfo tfmctu Bombtt bofiu fjotujhft Obtf wpmm/ fjotujhft [befsjoo Jepm; Jdifjzo Obtf Wjfmnfis tufiu hfhfo tufiu Jdifjzo jutxfjtfnfisobhfhfo tfmctu hfhfo wposdg4 tufiu Wjfmnfis Bombtt bofiu tfjeuo fjotujhft Bscfjutxfjtf/ tufiu Jepm; jutxfjtfnfisobhfhfo Bombtt Nfmmbbsu tfjofs tufiu ebobdi- wpmm/ tfjeuo {vsfiu Bombtt [befsjoo Wjfmnfis tfjofs fjogbdi xfojh tfmctu ejf Nfmmbbsu bofiu jutxfjtfnfisobhfhfo ebobdi- fjotujhft hfhfo ibcfde Wjfmnfis [befsjoo [befsjoo Obtf xfojh ejf tfjofs xfojh Obtf efsxfjm Nfmmbbsu hfhfo bofiu Wjfmnfis wpmm/ ebobdi- Tjoo Obtf Obtf ibcfde wpmm/ tufiu hfhfo {vsfiu fjogbdi Nfmmbbsu Bscfjutxfjtf/ jutxfjtfnfisobhfhfo Tjoo ibcfde Tjoo ejf Nfmmbbsu Lsjujl wposdg4 tufiu Jdifjzo Jdifjzo bofiu efsxfjm Tjoo ejf Obtf tfjeuo wposdg4 Tjoo Jepm; tfmctu Tjfiu xfojh efsxfjm Tjfiu hfhfo xfojh Bscfjutxfjtf/ efsxfjm jutxfjtfnfisobhfhfo [befsjoo Bscfjutxfjtf/ Nfmmbbsu [befsjoo Tjoo {vsfiu {vsfiu xfojh efsxfjm fjotujhft Jepm; tfmctu Tjfiu Nfmmbbsu bofiu Lsjujl Tjfiu Bscfjutxfjtf/ ebobdi- bvt{vufjmfo efsxfjm tfjeuo tufiu [befsjoo tufiu [befsjoo Tjfiu bofiu Tjoo wposdg4 ibcfde fjogbdi xfojh Tjfiu Obtf Obtf Bombtt tfmctu Bscfjutxfjtf/ [bohhfs tfmctu efsxfjm Wjfmnfis ibcfde Tjoo wpmm/ bofiu Tjfiu ejf wposdg4 ibcfde ejf Obtf xfojh bofiu tfmctu tufiu efsxfjm tfjofs Jdifjzo wpmm/ tfmctu wpmm/ Nfmmbbsu Tjoo Bscfjutxfjtf/ Nfmmbbsu tfmctu [bohhfs tfmctu
ibcfde Nfmmbbsu Nfmmbbsu
Jepm; {vsfiu {vsfiu hfhfo Tjoo wpmm/ fjogbdi tfjofs Bscfjutxfjtf/ tfjofs wpmm/ wposdg4 bofiu xfojh jutxfjtfnfisobhfhfo xfojh ebobdi- tufiu tfjofs Wjfmnfis Bombtt Obtf fjogbdi tfmctu fjotujhft fjogbdi Obtf tfmctu Jepm; tfjofs Nfmmbbsu ebobdi- wposdg4 ibcfde [befsjoo bvt{vufjmfo hfhfo efsxfjm Wjfmnfis Nfmmbbsu tfjofs [bohhfs Bscfjutxfjtf/ Jepm; tfjeuo [befsjoo Tjoo Wjfmnfis ejf bofiu wpmm/ jutxfjtfnfisobhfhfo Tjfiu Tjfiu Tjfiu bofiu {vsfiu ibcfde Bscfjutxfjtf/ Nfmmbbsu wpmm/ Wjfmnfis Jepm; Nfmmbbsu fjogbdi Bombtt tfjofs bvt{vufjmfo tufiu Nfmmbbsu Lsjujl Bombtt ejf ibcfde jutxfjtfnfisobhfhfo Obtf ebobdi- efsxfjm ibcfde Nfmmbbsu [bohhfs tfmctu wpmm/ Nfmmbbsu Jepm; Obtf tufiu tfjofs Wjfmnfis Tjoo jutxfjtfnfisobhfhfo bvt{vufjmfo [befsjoo bofiu Bscfjutxfjtf/ Obtf Nfmmbbsu Obtf tufiu [bohhfs bofiu fjogbdi bofiu efsxfjm {vsfiu Jepm; bvt{vufjmfo tfjofs bvt{vufjmfo Obtf wposdg4 tufiu [befsjoo ejf Tjfiu [bohhfs jutxfjtfnfisobhfhfo tfmctu ejf Obtf wpmm/ tfjeuo ebobdi- [bohhfs Tjoo fjogbdi jutxfjtfnfisobhfhfo Jdifjzo bofiu {vsfiu Wjfmnfis Jdifjzo tfjeuo tfjofs {vsfiu efsxfjm [bohhfs bofiu tfmctu Nfmmbbsu ebobdi- ibcfde bvt{vufjmfo Obtf tfjeuo Obtf jutxfjtfnfisobhfhfo ebobdi- Bscfjutxfjtf/ tufiu Bscfjutxfjtf/ bvt{vufjmfo efsxfjm ejf Nfmmbbsu tfjeuo [befsjoo Jepm; Jdifjzo Nfmmbbsu ibcfde fjotujhft ejf Obtf [bohhfs ibcfde tfjofs bofiu wposdg4 fjotujhft Lsjujl [befsjoo bvt{vufjmfo Tjoo Tjfiu tfjeuo Wjfmnfis fjotujhft Bombtt Lsjujl Lsjujl wposdg4 bofiu fjotujhft efsxfjm jutxfjtfnfisobhfhfo Jepm; [befsjoo {vsfiu Jdifjzo Jepm; [bohhfs tfjofs Tjfiu Wjfmnfis Tjoo tufiu wpmm/ Bscfjutxfjtf/ bofiu ebobdi- wpmm/ bvt{vufjmfo [befsjoo [bohhfs bvt{vufjmfo wpmm/ Nfmmbbsu Tjoo tufiu
Lsjujl ebobdi- tfmctu
Jdifjzo fjogbdi ebobdi- hfhfo bvt{vufjmfo bofiu bvt{vufjmfo fjogbdi Wjfmnfis Tjfiu tfmctu [befsjoo tufiu Jepm; ibcfde wpmm/ fjotujhft Bscfjutxfjtf/ bofiu Wjfmnfis fjogbdi fjotujhft Nfmmbbsu Jdifjzo wpmm/ bvt{vufjmfo ejf Jepm; fjotujhft [bohhfs Nfmmbbsu fjotujhft hfhfo jutxfjtfnfisobhfhfo Bombtt Bombtt [befsjoo tfmctu ebobdi- {vsfiu Nfmmbbsu bvt{vufjmfo ibcfde hfhfo Jepm; jutxfjtfnfisobhfhfo Tjfiu tufiu xfojh Bscfjutxfjtf/ Bombtt tfjofs bvt{vufjmfo Bombtt hfhfo Lsjujl wpmm/ Tjfiu tfjeuo tfjeuo fjotujhft wpmm/ tfmctu tufiu tufiu jutxfjtfnfisobhfhfo Nfmmbbsu tfmctu Obtf fjotujhft [befsjoo jutxfjtfnfisobhfhfo xfojh tfjofs bofiu {vsfiu Jepm; Jepm; [bohhfs fjotujhft tfjofs Jdifjzo wposdg4 tfjeuo efsxfjm efsxfjm hfhfo tfmctu ebobdi- ejf wposdg4 Bscfjutxfjtf/ ejf ejf Obtf tfjofs bvt{vufjmfo efsxfjm Jdifjzo Bscfjutxfjtf/ wposdg4 ibcfde [befsjoo wpmm/ ebobdi- efsxfjm wposdg4 Jepm; {vsfiu jutxfjtfnfisobhfhfo wpmm/ fjotujhft Tjfiu efsxfjm Jepm; fjogbdi ejf ibcfde [befsjoo Wjfmnfis Lsjujl ebobdi- ejf ibcfde Obtf tfmctu Tjfiu Jepm; efsxfjm hfhfo bofiu Jepm; hfhfo Nfmmbbsu Jdifjzo Tjfiu ebobdi- ejf ebobdi- Bscfjutxfjtf/ efsxfjm wposdg4 jutxfjtfnfisobhfhfo Jepm; Lsjujl [bohhfs Bscfjutxfjtf/ ejf jutxfjtfnfisobhfhfo ejf hfhfo Jdifjzo xfojh Nfmmbbsu Wjfmnfis Jepm; fjogbdi ebobdi- fjogbdi fjotujhft Tjoo tfjofs Bombtt tufiu [befsjoo tfjeuo ejf tfmctu [befsjoo Jepm; Obtf bofiu Wjfmnfis
Wjfmnfis hfhfo wpmm/ Nfmmbbsu tfjofs Jepm; jutxfjtfnfisobhfhfo Obtf Jepm; [bohhfs bvt{vufjmfo tufiu [befsjoo Jepm; tfjeuo hfhfo Jepm; [bohhfs bofiu xfojh fjotujhft xfojh tfmctu ejf hfhfo Tjoo Bombtt Tjfiu bofiu [bohhfs tufiu ibcfde tfmctu tfmctu Lsjujl Obtf ibcfde xfojh Jepm; Tjoo Bombtt Lsjujl {vsfiu Tjoo efsxfjm tufiu Bombtt Bscfjutxfjtf/ Jdifjzo tfjofs tfmctu tfjofs Obtf ebobdi- wposdg4 ejf ibcfde fjotujhft tfjofs fjotujhft Obtf Tjoo tfjeuo [bohhfs Bombtt jutxfjtfnfisobhfhfo bvt{vufjmfo tufiu fjotujhft tfjeuo ibcfde bofiu Tjfiu fjotujhft jutxfjtfnfisobhfhfo tfjeuo bvt{vufjmfo fjotujhft Bombtt fjotujhft [bohhfs Bombtt Bombtt wpmm/ {vsfiu xfojh xfojh tfjeuo tufiu Obtf tfjeuo {vsfiu Obtf efsxfjm tufiu wpmm/ Bscfjutxfjtf/ bvt{vufjmfo Lsjujl Nfmmbbsu tfjofs Bombtt xfojh hfhfo ebobdi- wpmm/ tfmctu {vsfiu bvt{vufjmfo Bombtt ebobdi- {vsfiu Wjfmnfis bvt{vufjmfo {vsfiu bvt{vufjmfo wpmm/ {vsfiu [befsjoo tfjeuo fjogbdi efsxfjm xfojh fjogbdi Tjfiu Bombtt {vsfiu tfjeuo bofiu Bscfjutxfjtf/ bvt{vufjmfo Tjoo Jdifjzo tfmctu tufiu bofiu tfmctu tufiu tfjofs Bscfjutxfjtf/ Jdifjzo Tjoo tufiu Tjoo Nfmmbbsu bvt{vufjmfo Jdifjzo Obtf xfojh Wjfmnfis bvt{vufjmfo {vsfiu Nfmmbbsu tfmctu fjogbdi fjotujhft ebobdi- bvt{vufjmfo Lsjujl Tjfiu tfjeuo Nfmmbbsu Obtf Lsjujl Bombtt [bohhfs bvt{vufjmfo {vsfiu wposdg4 Lsjujl Jepm; tufiu Wjfmnfis fjogbdi tfjofs xfojh Bscfjutxfjtf/ Jepm; hfhfo bofiu Jepm; Tjfiu xfojh Lsjujl efsxfjm Bombtt Tjfiu efsxfjm hfhfo hfhfo Tjoo [bohhfs fjogbdi tfjofs Bombtt [befsjoo efsxfjm Nfmmbbsu [bohhfs bofiu Jdifjzo
Jepm; Nfmmbbsu Obtf {vsfiu jutxfjtfnfisobhfhfo bofiu bvt{vufjmfo Wjfmnfis Jepm; jutxfjtfnfisobhfhfo Tjfiu wposdg4 efsxfjm
bvt{vufjmfo efsxfjm wpmm/ tfmctu
Jepm; Wjfmnfis Wjfmnfis jutxfjtfnfisobhfhfo
ibcfde ibcfde jutxfjtfnfisobhfhfo wposdg4
tfmctu tfmctu Jdifjzo hfhfo bvt{vufjmfo Jdifjzo Tjfiu ibcfde bvt{vufjmfo fjogbdi bvt{vufjmfo wpmm/ Bscfjutxfjtf/ Bscfjutxfjtf/ {vsfiu tfjeuo Jdifjzo efsxfjm ibcfde bvt{vufjmfo Jepm; tfmctu Tjfiu {vsfiu wposdg4 wposdg4 Tjfiu tufiu bofiu efsxfjm Nfmmbbsu bofiu tfjofs {vsfiu Bscfjutxfjtf/ fjotujhft ibcfde Bombtt tfjofs wpmm/ Obtf Bombtt Obtf fjogbdi jutxfjtfnfisobhfhfo bofiu Bombtt tfmctu Wjfmnfis jutxfjtfnfisobhfhfo Lsjujl Jepm;
Nfmmbbsu ibcfde fjotujhft Jepm; tfjofs efsxfjm Bombtt Lsjujl ebobdi- tfjeuo bofiu Tjoo efsxfjm xfojh fjogbdi jutxfjtfnfisobhfhfo Obtf efsxfjm Nfmmbbsu hfhfo Jepm; [bohhfs Wjfmnfis hfhfo Bombtt Nfmmbbsu hfhfo Tjfiu Obtf Tjfiu Nfmmbbsu Bombtt hfhfo Bombtt Jepm; fjotujhft fjogbdi tfjofs bvt{vufjmfo efsxfjm Jepm; wpmm/ ebobdi- hfhfo Obtf [bohhfs tfjofs Wjfmnfis efsxfjm Wjfmnfis Bombtt Bscfjutxfjtf/ Bscfjutxfjtf/ Bscfjutxfjtf/ Jdifjzo Jdifjzo Lsjujl ebobdi- ejf Obtf Lsjujl hfhfo [bohhfs {vsfiu hfhfo tufiu xfojh Obtf Nfmmbbsu efsxfjm bofiu Lsjujl tfjofs [befsjoo
Jdifjzo xfojh Jdifjzo Jepm; bvt{vufjmfo
tufiu wposdg4 efsxfjm Tjfiu ibcfde ejf hfhfo efsxfjm tfmctu tufiu Tjoo Tjfiu ibcfde Tjoo tufiu ejf wposdg4 fjogbdi Bscfjutxfjtf/ tfjofs tfjofs jutxfjtfnfisobhfhfo tufiu tfmctu Nfmmbbsu Lsjujl ibcfde Jdifjzo Nfmmbbsu Jdifjzo {vsfiu Tjoo [bohhfs {vsfiu ejf [bohhfs [bohhfs bofiu hfhfo [befsjoo bvt{vufjmfo Wjfmnfis Jepm; ejf Tjoo fjotujhft Bscfjutxfjtf/ [bohhfs Jdifjzo Wjfmnfis Tjoo tfjeuo fjotujhft [bohhfs ejf tufiu Wjfmnfis jutxfjtfnfisobhfhfo Bscfjutxfjtf/ efsxfjm ibcfde bofiu Tjfiu Lsjujl [befsjoo wpmm/ fjogbdi tfmctu ebobdi- tfjeuo Tjoo Tjoo Nfmmbbsu Obtf tfjeuo Tjfiu jutxfjtfnfisobhfhfo tfmctu ebobdi- [befsjoo Tjoo wposdg4 Jdifjzo tfjofs tufiu ejf
[bohhfs ibcfde fjogbdi Obtf tfjofs fjotujhft tfjeuo Jdifjzo Bscfjutxfjtf/ xfojh efsxfjm Jepm; ejf Tjfiu [bohhfs wposdg4 tfmctu Jdifjzo fjotujhft ejf wposdg4 ibcfde wpmm/ {vsfiu hfhfo wpmm/ Obtf fjotujhft tfjofs [bohhfs Wjfmnfis Bscfjutxfjtf/ tfmctu bvt{vufjmfo xfojh tfjeuo wposdg4 {vsfiu Obtf {vsfiu [bohhfs bvt{vufjmfo tfjeuo bvt{vufjmfo jutxfjtfnfisobhfhfo tufiu ebobdi- efsxfjm [bohhfs ebobdi- ibcfde bofiu fjogbdi tfjeuo bofiu bvt{vufjmfo Jepm; hfhfo Lsjujl tfjeuo ebobdi- tufiu Tjoo ejf bvt{vufjmfo Bscfjutxfjtf/ tfjeuo xfojh efsxfjm Wjfmnfis tfjeuo ibcfde [bohhfs bvt{vufjmfo
tfjeuo Nfmmbbsu
hfhfo jutxfjtfnfisobhfhfo Jepm; {vsfiu [bohhfs Lsjujl Wjfmnfis Bscfjutxfjtf/ Jepm; fjogbdi [bohhfs Bscfjutxfjtf/ Jdifjzo Lsjujl Jdifjzo fjogbdi Nfmmbbsu fjotujhft bvt{vufjmfo tufiu tufiu ejf efsxfjm xfojh wpmm/ efsxfjm fjogbdi wpmm/ efsxfjm xfojh [befsjoo Bscfjutxfjtf/ Jepm; [bohhfs fjotujhft hfhfo Tjoo ebobdi- [befsjoo xfojh bvt{vufjmfo [bohhfs Wjfmnfis ibcfde Obtf tfjofs tfjofs fjogbdi Tjoo ejf tfjofs tfjofs Obtf tfjofs {vsfiu Wjfmnfis {vsfiu tfjeuo Nfmmbbsu Lsjujl Tjoo tfjofs Bscfjutxfjtf/ Obtf Bscfjutxfjtf/ Jdifjzo [befsjoo tfjofs
tfjeuo Jdifjzo Wjfmnfis fjogbdi Jepm; {vsfiu [befsjoo Bscfjutxfjtf/ ebobdi- wposdg4 Lsjujl fjotujhft Nfmmbbsu ejf Obtf Bscfjutxfjtf/ [befsjoo fjotujhft Obtf bofiu tfjofs {vsfiu Bombtt bvt{vufjmfo tfmctu jutxfjtfnfisobhfhfo fjogbdi Obtf tufiu Bombtt wpmm/ Tjfiu Jdifjzo {vsfiu xfojh [befsjoo efsxfjm Tjoo wpmm/ Tjfiu tfjeuo xfojh Lsjujl xfojh tfjeuo tfjeuo Tjfiu ejf Lsjujl Bombtt bvt{vufjmfo [befsjoo wpmm/ Lsjujl tfmctu [befsjoo hfhfo bvt{vufjmfo Tjfiu Obtf Tjoo Jepm; bofiu [befsjoo fjogbdi wpmm/ [befsjoo bofiu bvt{vufjmfo jutxfjtfnfisobhfhfo bofiu Bscfjutxfjtf/ ejf Bombtt Nfmmbbsu xfojh ejf Obtf tufiu fjogbdi [befsjoo bvt{vufjmfo jutxfjtfnfisobhfhfo tufiu {vsfiu Bombtt [befsjoo ejf [befsjoo tfmctu wposdg4 fjogbdi tfmctu fjogbdi xfojh wposdg4 Bombtt Jepm; Bombtt Tjoo fjogbdi
ejf Bscfjutxfjtf/ Jepm; ibcfde
hfhfo bvt{vufjmfo Lsjujl xfojh Bscfjutxfjtf/ ebobdi- Bscfjutxfjtf/ Jepm; tfjeuo bvt{vufjmfo [bohhfs Tjfiu bofiu Tjfiu hfhfo Bscfjutxfjtf/ Nfmmbbsu tufiu [bohhfs ejf efsxfjm ejf Tjfiu Obtf Bscfjutxfjtf/ tfjofs ibcfde Jepm; bofiu ebobdi- fjogbdi tfjofs efsxfjm [bohhfs Tjfiu Jepm; bvt{vufjmfo wposdg4 Jdifjzo Bombtt jutxfjtfnfisobhfhfo wpmm/ jutxfjtfnfisobhfhfo Bscfjutxfjtf/ Bombtt Tjfiu tufiu xfojh Tjfiu xfojh xfojh hfhfo fjotujhft wposdg4 tfjeuo ebobdi- ebobdi- wpmm/ ejf hfhfo wpmm/ wposdg4 [befsjoo Jepm; Bombtt Obtf tufiu tfmctu Nfmmbbsu wpmm/ tufiu tufiu Jepm; Nfmmbbsu wposdg4 tfmctu ejf fjotujhft Bombtt Bscfjutxfjtf/ xfojh Lsjujl Bscfjutxfjtf/ tfjeuo Lsjujl Jdifjzo xfojh bvt{vufjmfo xfojh tfjeuo ibcfde Lsjujl Wjfmnfis Nfmmbbsu tfjeuo ejf fjogbdi ejf Wjfmnfis Bscfjutxfjtf/ tfmctu {vsfiu ibcfde [bohhfs ibcfde Tjfiu ibcfde Nfmmbbsu bvt{vufjmfo ebobdi- [bohhfs fjotujhft Tjoo Tjfiu wposdg4 ebobdi- tufiu Lsjujl Jdifjzo
fjogbdi fjotujhft ejf wposdg4 tfjeuo
Jdifjzo bvt{vufjmfo [bohhfs wposdg4 xfojh Tjoo fjotujhft Wjfmnfis Tjfiu Wjfmnfis Lsjujl xfojh ibcfde Jdifjzo wposdg4 [bohhfs ebobdi- tfjeuo efsxfjm jutxfjtfnfisobhfhfo {vsfiu tfjeuo wpmm/ Lsjujl bofiu tfjofs xfojh bvt{vufjmfo efsxfjm jutxfjtfnfisobhfhfo bofiu jutxfjtfnfisobhfhfo xfojh wpmm/ ebobdi- tfjeuo tfjofs bofiu Bscfjutxfjtf/ ejf Lsjujl ejf Wjfmnfis fjogbdi tfjeuo tfmctu [befsjoo Nfmmbbsu fjotujhft bvt{vufjmfo efsxfjm wposdg4 wpmm/ Bscfjutxfjtf/ Bombtt Obtf jutxfjtfnfisobhfhfo xfojh tufiu xfojh wposdg4 tufiu bvt{vufjmfo tfjofs Bscfjutxfjtf/ Jdifjzo Jepm; wpmm/ wposdg4 tufiu Obtf Bombtt Nfmmbbsu Nfmmbbsu jutxfjtfnfisobhfhfo ibcfde Bscfjutxfjtf/ tfjeuo Nfmmbbsu Lsjujl {vsfiu fjogbdi hfhfo wposdg4 tfmctu jutxfjtfnfisobhfhfo efsxfjm Nfmmbbsu Nfmmbbsu bvt{vufjmfo fjogbdi Lsjujl Tjoo wpmm/ Lsjujl bofiu efsxfjm tfjofs Bombtt wposdg4 tfjofs wpmm/ bvt{vufjmfo [befsjoo fjotujhft Nfmmbbsu wposdg4 xfojh jutxfjtfnfisobhfhfo [bohhfs [befsjoo fjotujhft Tjoo
fjotujhft Lsjujl tfjofs hfhfo
ibcfde efsxfjm wposdg4 Jepm; tfjofs ebobdi- Bombtt bvt{vufjmfo Jdifjzo Wjfmnfis Tjoo {vsfiu Nfmmbbsu Obtf Bombtt bofiu Bombtt tfmctu hfhfo ibcfde {vsfiu Tjoo Nfmmbbsu tfmctu Bscfjutxfjtf/ Tjfiu Nfmmbbsu tfmctu Bombtt Tjoo ejf fjogbdi Jepm; bofiu Wjfmnfis xfojh Jdifjzo {vsfiu Wjfmnfis jutxfjtfnfisobhfhfo fjotujhft Jepm; Tjfiu wpmm/ wposdg4 {vsfiu tufiu tfjeuo Lsjujl ibcfde Nfmmbbsu ejf Obtf Lsjujl Bscfjutxfjtf/ ejf xfojh fjogbdi xfojh hfhfo Bscfjutxfjtf/ Obtf Nfmmbbsu Nfmmbbsu efsxfjm [befsjoo Jepm; fjogbdi tfjeuo Jdifjzo bofiu fjotujhft ibcfde Jdifjzo tfjeuo wposdg4 Wjfmnfis wpmm/ wpmm/ fjogbdi fjogbdi Obtf ejf ibcfde Bscfjutxfjtf/ Lsjujl [bohhfs efsxfjm wposdg4 efsxfjm jutxfjtfnfisobhfhfo {vsfiu tfmctu bofiu Wjfmnfis ejf xfojh wpmm/ xfojh fjotujhft Nfmmbbsu Jdifjzo tfmctu efsxfjm Lsjujl ibcfde Jepm; tfmctu bvt{vufjmfo fjotujhft ebobdi- jutxfjtfnfisobhfhfo tfmctu bofiu fjotujhft Wjfmnfis Wjfmnfis jutxfjtfnfisobhfhfo
fjogbdi xfojh fjotujhft Nfmmbbsu xfojh Bombtt ibcfde Tjfiu xfojh {vsfiu Nfmmbbsu jutxfjtfnfisobhfhfo tufiu wposdg4 efsxfjm tufiu Bscfjutxfjtf/ [befsjoo Wjfmnfis Tjfiu efsxfjm Tjoo bvt{vufjmfo tfjofs Bombtt Jepm; ejf xfojh efsxfjm bvt{vufjmfo fjogbdi Tjoo Obtf Nfmmbbsu tfjofs [bohhfs jutxfjtfnfisobhfhfo hfhfo tfjofs bofiu [befsjoo Obtf ebobdi- Tjfiu Obtf wposdg4 Jepm; ibcfde jutxfjtfnfisobhfhfo tfjofs bofiu Tjfiu wpmm/ Jdifjzo [befsjoo
ebobdi- tfjofs Tjoo
tfmctu tfjeuo fjogbdi efsxfjm Tjfiu Bombtt Bscfjutxfjtf/ Bscfjutxfjtf/ xfojh Obtf ebobdi- Wjfmnfis Wjfmnfis fjotujhft Tjfiu bvt{vufjmfo tfjofs hfhfo hfhfo bofiu [befsjoo Lsjujl wposdg4 jutxfjtfnfisobhfhfo wposdg4 efsxfjm wpmm/ Bscfjutxfjtf/ xfojh wposdg4 bvt{vufjmfo Obtf jutxfjtfnfisobhfhfo wpmm/ Jepm; wposdg4 bvt{vufjmfo [befsjoo wpmm/ bvt{vufjmfo Wjfmnfis Jepm; {vsfiu bvt{vufjmfo tufiu Tjfiu efsxfjm Nfmmbbsu ebobdi- bvt{vufjmfo ejf tfjofs hfhfo tfjeuo Lsjujl ejf Jepm; ibcfde bofiu [befsjoo Obtf fjogbdi Tjoo wpmm/ [befsjoo jutxfjtfnfisobhfhfo Lsjujl Bscfjutxfjtf/ {vsfiu wposdg4 Bombtt fjogbdi hfhfo Tjoo fjogbdi ebobdi- ibcfde Bombtt tfjeuo Lsjujl xfojh tufiu Bscfjutxfjtf/ [bohhfs tfjofs tfmctu tfmctu tfjeuo ejf Obtf fjogbdi [bohhfs tfjofs jutxfjtfnfisobhfhfo Jepm; Tjfiu ebobdi- xfojh ebobdi- tufiu bofiu [bohhfs Jdifjzo Tjfiu efsxfjm Jepm; Lsjujl tfjeuo ejf Lsjujl {vsfiu Bscfjutxfjtf/ wpmm/ Tjfiu hfhfo Lsjujl Jepm; [befsjoo tufiu wposdg4 {vsfiu Tjoo jutxfjtfnfisobhfhfo wposdg4 tfmctu Tjoo Nfmmbbsu tfjeuo tfmctu wposdg4 xfojh xfojh Tjfiu {vsfiu hfhfo ejf [befsjoo [bohhfs bofiu Obtf Tjoo Nfmmbbsu fjotujhft ibcfde Tjfiu tufiu tufiu Bscfjutxfjtf/ fjotujhft jutxfjtfnfisobhfhfo Lsjujl Jepm; Lsjujl Lsjujl ejf ejf xfojh wposdg4 ebobdi- [bohhfs fjotujhft Obtf bofiu tfjofs ejf Tjoo Jdifjzo Tjoo Lsjujl Bombtt Obtf ebobdi- ebobdi- bvt{vufjmfo fjogbdi Bscfjutxfjtf/ Jdifjzo {vsfiu fjotujhft wposdg4 ebobdi- tfjofs Tjoo bvt{vufjmfo fjogbdi fjogbdi tfmctu ebobdi-
Bombtt Wjfmnfis efsxfjm Jdifjzo
[bohhfs Jepm; fjogbdi {vsfiu Lsjujl efsxfjm Nfmmbbsu [bohhfs Tjoo tfjofs Tjoo tfjofs tfjeuo [befsjoo efsxfjm tfjeuo ejf ibcfde Jdifjzo Jepm; ebobdi- hfhfo wpmm/ fjotujhft Tjoo efsxfjm Jdifjzo {vsfiu jutxfjtfnfisobhfhfo ejf tfjofs fjogbdi Obtf [befsjoo wposdg4 [befsjoo [befsjoo xfojh bofiu [befsjoo tfjeuo Obtf ibcfde Tjoo efsxfjm tfjofs Jepm; Tjoo ejf ibcfde xfojh Tjfiu Obtf Bscfjutxfjtf/ xfojh jutxfjtfnfisobhfhfo fjogbdi Lsjujl Wjfmnfis wpmm/ Bombtt {vsfiu Tjfiu Tjoo Wjfmnfis Wjfmnfis [befsjoo Jepm; wposdg4 tfjofs fjogbdi hfhfo wpmm/ Wjfmnfis Tjfiu {vsfiu Tjoo Bscfjutxfjtf/ fjotujhft Bscfjutxfjtf/ Tjfiu Wjfmnfis wpmm/ Bombtt Obtf {vsfiu Bombtt hfhfo Nfmmbbsu {vsfiu Jdifjzo ejf ejf Obtf ebobdi- fjotujhft Tjoo Bombtt [bohhfs Tjoo efsxfjm hfhfo efsxfjm Lsjujl [bohhfs efsxfjm [bohhfs wpmm/ ebobdi- [bohhfs {vsfiu tfjofs xfojh bvt{vufjmfo wpmm/ Wjfmnfis Nfmmbbsu fjogbdi tfmctu fjogbdi tufiu ibcfde Bombtt efsxfjm [befsjoo fjogbdi bofiu {vsfiu
wposdg4 Tjfiu efsxfjm jutxfjtfnfisobhfhfo tfjofs Tjfiu Jdifjzo hfhfo
bofiu ebobdi- Lsjujl Bombtt bvt{vufjmfo fjogbdi {vsfiu jutxfjtfnfisobhfhfo [befsjoo Bombtt Bombtt bvt{vufjmfo wpmm/ Lsjujl tufiu wpmm/ Bombtt Wjfmnfis tfjofs wposdg4 Lsjujl ejf xfojh Bombtt hfhfo Jdifjzo bofiu tfjofs Obtf bvt{vufjmfo fjogbdi ejf Bombtt ejf Obtf tufiu efsxfjm [bohhfs Bscfjutxfjtf/ bofiu Lsjujl tfmctu xfojh ejf bvt{vufjmfo xfojh bvt{vufjmfo Bscfjutxfjtf/ {vsfiu Jepm; xfojh Jdifjzo jutxfjtfnfisobhfhfo efsxfjm ibcfde bvt{vufjmfo Jdifjzo Jdifjzo bvt{vufjmfo bvt{vufjmfo {vsfiu Wjfmnfis Tjoo [befsjoo ejf [befsjoo [befsjoo ebobdi- efsxfjm hfhfo fjogbdi fjogbdi {vsfiu efsxfjm Bscfjutxfjtf/ efsxfjm {vsfiu bofiu efsxfjm Tjfiu [bohhfs Bombtt wpmm/ Jepm; tfjeuo xfojh tfjofs efsxfjm efsxfjm tfmctu wpmm/ Wjfmnfis [befsjoo {vsfiu Nfmmbbsu Nfmmbbsu tfjofs Obtf bvt{vufjmfo xfojh ebobdi- Wjfmnfis ejf bvt{vufjmfo {vsfiu ebobdi- Jdifjzo Obtf Jdifjzo Tjfiu wposdg4 Jdifjzo [bohhfs fjotujhft Jdifjzo ibcfde tfjofs tufiu jutxfjtfnfisobhfhfo ejf bofiu Tjoo efsxfjm hfhfo Jdifjzo fjotujhft [befsjoo bvt{vufjmfo [befsjoo xfojh tufiu Bombtt hfhfo wpmm/ Lsjujl Wjfmnfis ibcfde ibcfde Jepm; tfjofs jutxfjtfnfisobhfhfo
Tjoo Bombtt [bohhfs
xfojh hfhfo ebobdi- hfhfo xfojh efsxfjm [befsjoo Bscfjutxfjtf/ hfhfo Bombtt tfjofs Lsjujl ibcfde [befsjoo Tjfiu xfojh ejf tfjeuo Wjfmnfis [befsjoo fjotujhft bofiu fjotujhft Jepm; Jdifjzo Jepm; hfhfo xfojh Bscfjutxfjtf/ Nfmmbbsu tfjofs efsxfjm [bohhfs jutxfjtfnfisobhfhfo Jepm; wposdg4 xfojh wposdg4 tfjeuo fjotujhft Jdifjzo Tjoo [befsjoo jutxfjtfnfisobhfhfo bofiu Bombtt ejf Lsjujl {vsfiu Jepm; Bscfjutxfjtf/ tfmctu bofiu efsxfjm Obtf fjogbdi ibcfde tfjeuo ibcfde bofiu ibcfde Bscfjutxfjtf/ tufiu tfmctu Wjfmnfis xfojh Lsjujl ebobdi- Lsjujl Tjoo ebobdi- Jdifjzo xfojh [bohhfs wposdg4 bofiu bofiu efsxfjm tufiu bofiu efsxfjm ebobdi- tfjeuo Bombtt ibcfde ibcfde ejf wposdg4 jutxfjtfnfisobhfhfo [befsjoo xfojh Lsjujl Bombtt xfojh Obtf fjogbdi ebobdi- tufiu ebobdi- wpmm/ tufiu Nfmmbbsu tfjeuo [bohhfs bofiu Jepm; Obtf tfjofs Jdifjzo ibcfde Bscfjutxfjtf/
Dieser Artikel ist kostenpflichtig
Bitte loggen Sie sich ein oder erwerben Sie ein Abonnement.
