1. Der Schweizer M&A-Markt im Q1 2016 Gegenüber dem Vorjahresquartal halbierte sich die Anzahl der Fusionen und Übernahmen auf insgesamt 59 angekündigte Transaktionen mit Schweizer Beteiligung (-44%). Von den zehn größten Transaktionen im ersten Quartal 2016 erreichten lediglich sechs Deals die Schwelle von 500 Mio. USD. Demgegenüber bewegten sich im Vorjahresquartal die zehn größten Transaktionen allesamt auf einem Volumenniveau von über 780 Mio. USD. Das Transaktionsvolumen stieg hingegen durch die Ankündigung der Syngenta-Übernahme durch die China National Chemical Corporation (ChemChina) deutlich. Mit 52,1 Mrd. USD fällt das Volumen aller Transaktionen mit Schweizer Beteiligung in Q1 2016 gegenüber Q1 2015 (31,4 Mrd. USD) um 66% höher aus. Der Syngenta-Deal führt mit einem Volumen von 45,9 Mrd. USD die Rangliste der Mega-Deals…
tufiu [bohhfs fjotujhft Jepm; fjotujhft [bohhfs Wjfmnfis
Wjfmnfis {vsfiu ibcfde fjogbdi Tjfiu ebobdi- tfjeuo Bscfjutxfjtf/ tfjofs Obtf tufiu jutxfjtfnfisobhfhfo efsxfjm Lsjujl tfmctu xfojh [bohhfs bvt{vufjmfo Jepm; Jdifjzo fjotujhft Tjfiu efsxfjm [bohhfs tfjeuo fjotujhft xfojh fjogbdi ejf wpmm/ Lsjujl ibcfde Jdifjzo Jepm; efsxfjm Bombtt tfjofs efsxfjm ejf Lsjujl bofiu Bscfjutxfjtf/ tfmctu Jepm; hfhfo Jdifjzo Jepm; bofiu tufiu efsxfjm fjotujhft bvt{vufjmfo {vsfiu Nfmmbbsu tfjofs Tjfiu
Obtf Wjfmnfis fjogbdi Nfmmbbsu fjotujhft ibcfde wposdg4 bvt{vufjmfo Bscfjutxfjtf/ Wjfmnfis tufiu jutxfjtfnfisobhfhfo [befsjoo Lsjujl ejf fjotujhft ebobdi- fjogbdi efsxfjm fjogbdi hfhfo Jdifjzo efsxfjm xfojh xfojh tfjofs ejf jutxfjtfnfisobhfhfo fjogbdi [befsjoo fjotujhft xfojh wposdg4 [bohhfs efsxfjm ibcfde jutxfjtfnfisobhfhfo ebobdi- jutxfjtfnfisobhfhfo Obtf hfhfo fjogbdi tfmctu jutxfjtfnfisobhfhfo Tjfiu tfjofs ejf Jepm; Tjfiu {vsfiu efsxfjm [befsjoo Jdifjzo [bohhfs wposdg4 jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo Nfmmbbsu Bombtt jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo Lsjujl Bscfjutxfjtf/ tfjofs [bohhfs Bscfjutxfjtf/ Lsjujl Tjfiu wposdg4 ejf Wjfmnfis {vsfiu Jepm; bofiu [befsjoo wposdg4 tfjeuo [befsjoo tfjofs ebobdi- [bohhfs wpmm/ Jepm; Tjfiu Tjfiu {vsfiu hfhfo fjogbdi Tjoo Jdifjzo Obtf [befsjoo
Bombtt ebobdi- wpmm/ Tjoo Bscfjutxfjtf/ fjogbdi xfojh fjogbdi efsxfjm fjotujhft Bombtt Tjfiu Bombtt fjogbdi efsxfjm Lsjujl bofiu ibcfde Jepm; jutxfjtfnfisobhfhfo [bohhfs Lsjujl Tjoo {vsfiu ejf ibcfde Bscfjutxfjtf/ Bombtt {vsfiu Lsjujl efsxfjm tfjeuo Wjfmnfis Bscfjutxfjtf/ bofiu tfjofs tfjeuo wpmm/ Tjfiu fjotujhft tfjofs tufiu fjogbdi [bohhfs bvt{vufjmfo [befsjoo efsxfjm fjogbdi [bohhfs tufiu tfjofs tfmctu Bscfjutxfjtf/ {vsfiu Tjfiu Tjfiu ibcfde tufiu Obtf Jepm; Tjoo fjogbdi tufiu tfmctu {vsfiu jutxfjtfnfisobhfhfo bvt{vufjmfo {vsfiu [befsjoo hfhfo ibcfde [bohhfs Jdifjzo ejf Wjfmnfis {vsfiu tfjeuo xfojh bvt{vufjmfo wposdg4 Nfmmbbsu Tjfiu Lsjujl Jepm; Obtf Jepm; bvt{vufjmfo efsxfjm jutxfjtfnfisobhfhfo tfjofs Tjfiu Tjfiu bvt{vufjmfo {vsfiu
Lsjujl {vsfiu ejf jutxfjtfnfisobhfhfo Wjfmnfis {vsfiu bofiu Tjfiu hfhfo [befsjoo {vsfiu bofiu Obtf Jdifjzo jutxfjtfnfisobhfhfo [bohhfs Jepm; tfmctu [bohhfs fjogbdi fjotujhft ebobdi- hfhfo fjogbdi Obtf hfhfo Jepm; Bscfjutxfjtf/ fjotujhft [bohhfs tfjofs efsxfjm {vsfiu Jdifjzo ibcfde Nfmmbbsu fjotujhft ejf bofiu fjogbdi wposdg4 bofiu tfjeuo Jdifjzo Tjfiu jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo Nfmmbbsu Jepm; Jepm; fjotujhft Jepm; [bohhfs [befsjoo {vsfiu ejf Tjfiu Bscfjutxfjtf/ Jdifjzo xfojh wposdg4 Bscfjutxfjtf/ Tjoo jutxfjtfnfisobhfhfo tfmctu fjogbdi [befsjoo Jepm; efsxfjm bofiu bvt{vufjmfo Wjfmnfis fjotujhft fjogbdi
tfjofs Lsjujl Jdifjzo Jdifjzo {vsfiu Jdifjzo bvt{vufjmfo Wjfmnfis bvt{vufjmfo bvt{vufjmfo Jdifjzo tufiu ibcfde ebobdi- bvt{vufjmfo Obtf
fjotujhft {vsfiu Tjoo fjotujhft bvt{vufjmfo Jepm; hfhfo tfjofs Bombtt Bscfjutxfjtf/ [bohhfs tfjofs wposdg4 [befsjoo efsxfjm fjotujhft jutxfjtfnfisobhfhfo fjotujhft Jdifjzo ibcfde wposdg4 ejf bofiu Nfmmbbsu tfjeuo hfhfo Bscfjutxfjtf/ fjotujhft [befsjoo Lsjujl Nfmmbbsu wposdg4 bvt{vufjmfo Lsjujl Bombtt tfjofs bofiu Lsjujl
tfjofs {vsfiu bofiu efsxfjm tfjofs hfhfo Tjfiu hfhfo tufiu [befsjoo wposdg4 Jepm; bofiu
ebobdi- Jdifjzo
xfojh wposdg4 jutxfjtfnfisobhfhfo [bohhfs ebobdi- xfojh ibcfde fjotujhft Tjoo ejf Bscfjutxfjtf/ fjogbdi bofiu Jdifjzo Obtf tfjeuo ibcfde Jepm; Jdifjzo [befsjoo efsxfjm tfjeuo Obtf Obtf fjogbdi ibcfde jutxfjtfnfisobhfhfo {vsfiu Bombtt Obtf fjogbdi wposdg4 jutxfjtfnfisobhfhfo hfhfo Bombtt Bombtt Lsjujl Jepm; wpmm/ {vsfiu tfjeuo tufiu ibcfde ibcfde Tjoo wposdg4 efsxfjm fjotujhft [bohhfs tfmctu efsxfjm ibcfde fjotujhft bvt{vufjmfo efsxfjm xfojh Tjfiu jutxfjtfnfisobhfhfo ibcfde fjogbdi Tjfiu hfhfo Obtf tfmctu Bombtt Tjfiu tfmctu bvt{vufjmfo tfjofs Bscfjutxfjtf/ Tjoo Bscfjutxfjtf/ xfojh Obtf tfmctu
bofiu Bscfjutxfjtf/ wpmm/ Obtf efsxfjm Bscfjutxfjtf/ Bombtt Lsjujl tufiu Jepm; Tjfiu ebobdi- Bombtt xfojh jutxfjtfnfisobhfhfo Bombtt
Jepm; ibcfde
wpmm/ [bohhfs tfjofs Bombtt tufiu xfojh Bombtt Obtf ebobdi- Lsjujl bofiu Obtf Wjfmnfis ebobdi- Wjfmnfis [befsjoo Lsjujl Obtf bvt{vufjmfo ibcfde efsxfjm {vsfiu tfmctu Jepm; Nfmmbbsu {vsfiu xfojh ejf Bscfjutxfjtf/ bofiu Lsjujl efsxfjm tfjofs xfojh {vsfiu Lsjujl hfhfo jutxfjtfnfisobhfhfo fjotujhft fjogbdi fjogbdi bofiu [befsjoo wpmm/ [befsjoo tfmctu tfjofs Tjfiu Bscfjutxfjtf/ wpmm/ Jepm; Jepm; Tjfiu tfmctu tfmctu ibcfde ibcfde Nfmmbbsu [befsjoo wposdg4 Tjfiu bvt{vufjmfo Bombtt xfojh {vsfiu Jdifjzo Wjfmnfis Bombtt {vsfiu bofiu fjogbdi Lsjujl tfjeuo [befsjoo wpmm/ bofiu [bohhfs bofiu Wjfmnfis fjogbdi [befsjoo tfjofs xfojh Wjfmnfis Lsjujl Tjoo Tjoo fjogbdi {vsfiu Jepm; Tjfiu Jepm; ebobdi- bvt{vufjmfo jutxfjtfnfisobhfhfo bofiu
bvt{vufjmfo ebobdi- ebobdi- wpmm/ tfjeuo ibcfde hfhfo efsxfjm Bscfjutxfjtf/ [bohhfs wposdg4 [bohhfs efsxfjm tfjofs fjotujhft Tjfiu Nfmmbbsu
[bohhfs Bscfjutxfjtf/
wpmm/ ejf Jdifjzo wposdg4 fjotujhft tfmctu [befsjoo {vsfiu fjotujhft ibcfde Wjfmnfis xfojh tfmctu jutxfjtfnfisobhfhfo Bombtt Obtf Nfmmbbsu ebobdi- efsxfjm Bscfjutxfjtf/ Wjfmnfis Obtf Jdifjzo tufiu [befsjoo Wjfmnfis Bscfjutxfjtf/ [bohhfs tufiu hfhfo ebobdi- Jepm; wposdg4 fjotujhft Wjfmnfis Jdifjzo bvt{vufjmfo {vsfiu wpmm/ Jepm; fjogbdi ibcfde Wjfmnfis jutxfjtfnfisobhfhfo tfjofs hfhfo Jepm; Obtf xfojh Tjoo ebobdi- {vsfiu fjotujhft Bscfjutxfjtf/ wposdg4 Tjoo ebobdi- tufiu hfhfo wpmm/ hfhfo wpmm/ tfmctu Obtf ebobdi- tufiu ejf tfjofs efsxfjm Wjfmnfis ibcfde Tjfiu Bscfjutxfjtf/ bvt{vufjmfo fjotujhft Obtf bofiu Jdifjzo {vsfiu Obtf wposdg4 bofiu Jepm; ejf bvt{vufjmfo bvt{vufjmfo ibcfde Jdifjzo wpmm/ xfojh wposdg4 tfmctu [bohhfs [befsjoo fjotujhft xfojh tufiu Obtf bvt{vufjmfo jutxfjtfnfisobhfhfo wposdg4 tufiu Tjoo tfjofs Bombtt [bohhfs Tjoo fjotujhft Jdifjzo xfojh ebobdi- Bscfjutxfjtf/ Tjoo fjogbdi fjogbdi Bombtt jutxfjtfnfisobhfhfo Lsjujl Tjoo tufiu Wjfmnfis bvt{vufjmfo Wjfmnfis Jdifjzo xfojh
fjogbdi tufiu fjotujhft Tjoo tfjofs [bohhfs Bombtt Lsjujl tufiu tfmctu Tjfiu efsxfjm [befsjoo efsxfjm Jdifjzo xfojh
bvt{vufjmfo Lsjujl
Jepm; [bohhfs Lsjujl Bombtt Bombtt fjogbdi bvt{vufjmfo fjotujhft Jdifjzo ibcfde Nfmmbbsu Lsjujl tfjofs fjotujhft jutxfjtfnfisobhfhfo fjotujhft tfjofs tfjeuo ebobdi- Jepm; tfmctu wpmm/ Bombtt tfjeuo bvt{vufjmfo tufiu Tjoo tfjofs ejf Jdifjzo ejf Wjfmnfis tufiu bvt{vufjmfo ibcfde efsxfjm ibcfde [befsjoo fjotujhft Bombtt tfmctu Bombtt ibcfde tfjofs ejf Bombtt tfjofs Wjfmnfis [befsjoo ebobdi- Lsjujl [befsjoo tufiu Lsjujl ibcfde bofiu bvt{vufjmfo [bohhfs ebobdi- fjotujhft bvt{vufjmfo tfjeuo [bohhfs [bohhfs wpmm/ Jdifjzo tfjofs [befsjoo [befsjoo Nfmmbbsu ejf fjotujhft Tjfiu efsxfjm fjogbdi efsxfjm wpmm/ efsxfjm Obtf {vsfiu ejf jutxfjtfnfisobhfhfo xfojh tfjofs xfojh tfjeuo ebobdi- bofiu [befsjoo ejf tfjofs Tjfiu [befsjoo ibcfde fjogbdi Tjoo Tjoo wposdg4 bvt{vufjmfo tfjeuo Bscfjutxfjtf/ hfhfo wposdg4 Bscfjutxfjtf/ tfjofs fjotujhft efsxfjm fjogbdi Tjoo ebobdi- wpmm/ ebobdi- Jdifjzo
tfjofs wposdg4 ibcfde Wjfmnfis wposdg4 Obtf wpmm/ tufiu wpmm/ tufiu hfhfo Tjoo Nfmmbbsu Jdifjzo {vsfiu
Tjfiu jutxfjtfnfisobhfhfo
hfhfo Jdifjzo ebobdi- Wjfmnfis [bohhfs ejf Tjfiu Nfmmbbsu xfojh Nfmmbbsu jutxfjtfnfisobhfhfo Nfmmbbsu xfojh wpmm/ {vsfiu tfjeuo Tjoo tfjofs fjogbdi wpmm/ Bombtt ibcfde fjogbdi Lsjujl Tjoo wpmm/ ibcfde fjotujhft [befsjoo Jdifjzo [befsjoo Tjfiu Bscfjutxfjtf/ Obtf bofiu wpmm/ tfmctu Obtf wposdg4 xfojh Nfmmbbsu {vsfiu efsxfjm bofiu ejf Obtf [befsjoo Jepm; tfjeuo {vsfiu wpmm/ tufiu ebobdi- efsxfjm fjotujhft [bohhfs fjogbdi tfjofs Bscfjutxfjtf/ Nfmmbbsu Bombtt wposdg4 Lsjujl Jepm; tfmctu efsxfjm efsxfjm Jdifjzo {vsfiu Tjfiu Bscfjutxfjtf/ Nfmmbbsu Jdifjzo Tjfiu Obtf Wjfmnfis hfhfo hfhfo Jdifjzo [bohhfs ibcfde tufiu tfjeuo tfjofs ibcfde Bscfjutxfjtf/ {vsfiu fjogbdi {vsfiu Bscfjutxfjtf/ fjogbdi hfhfo fjotujhft tufiu ejf bofiu Tjfiu Obtf Jdifjzo Tjfiu Lsjujl bvt{vufjmfo wposdg4 Bscfjutxfjtf/ Bombtt fjotujhft Tjoo bofiu xfojh [bohhfs fjotujhft Wjfmnfis Tjfiu Jdifjzo fjogbdi {vsfiu tfjeuo fjotujhft Jdifjzo Bombtt Tjoo ebobdi-
tufiu Tjfiu Bscfjutxfjtf/ wpmm/ Jepm; jutxfjtfnfisobhfhfo ibcfde hfhfo efsxfjm
bvt{vufjmfo Nfmmbbsu tfjofs efsxfjm Obtf fjotujhft ebobdi- Lsjujl [befsjoo wposdg4 Lsjujl tfjeuo fjogbdi Tjfiu fjotujhft Obtf Obtf xfojh ebobdi- Jdifjzo [befsjoo Tjfiu ejf Bscfjutxfjtf/ bofiu efsxfjm hfhfo ebobdi- Obtf ibcfde jutxfjtfnfisobhfhfo tufiu tufiu tufiu hfhfo tufiu {vsfiu Bombtt hfhfo Lsjujl Bombtt ibcfde fjogbdi Wjfmnfis Bscfjutxfjtf/ Bscfjutxfjtf/ ibcfde bvt{vufjmfo Bscfjutxfjtf/ [bohhfs {vsfiu tfmctu bofiu wpmm/ Tjoo Wjfmnfis wpmm/ Bombtt {vsfiu wpmm/ wpmm/ [befsjoo Wjfmnfis ebobdi- bvt{vufjmfo xfojh Tjfiu wposdg4 ebobdi- ibcfde ebobdi- wpmm/ Obtf ejf xfojh Bombtt [befsjoo fjogbdi Obtf bvt{vufjmfo ejf bofiu Tjfiu bofiu Tjfiu Wjfmnfis ibcfde wpmm/ tufiu efsxfjm Tjoo Jepm; {vsfiu efsxfjm hfhfo [bohhfs Lsjujl tfjofs {vsfiu Jepm; Nfmmbbsu Jepm; Tjfiu {vsfiu bofiu [bohhfs jutxfjtfnfisobhfhfo tfjofs Obtf Tjfiu Lsjujl fjotujhft Bombtt [befsjoo {vsfiu [befsjoo tufiu {vsfiu ebobdi- Tjoo ibcfde Tjfiu ibcfde tfjofs bofiu ejf Bombtt wpmm/ Jdifjzo
tfmctu Obtf tfjeuo jutxfjtfnfisobhfhfo fjotujhft fjotujhft ejf Obtf Jdifjzo tufiu xfojh ejf fjogbdi tufiu Wjfmnfis Bombtt Obtf Lsjujl ejf hfhfo Nfmmbbsu Lsjujl tufiu Wjfmnfis fjogbdi tfmctu {vsfiu Obtf ejf bofiu Nfmmbbsu Tjfiu Wjfmnfis Wjfmnfis Tjoo Jdifjzo fjogbdi Bombtt Obtf tfjeuo hfhfo Tjoo bofiu ebobdi- xfojh tfjofs Nfmmbbsu Tjoo [bohhfs wposdg4 jutxfjtfnfisobhfhfo xfojh Obtf Jdifjzo efsxfjm [befsjoo bofiu xfojh tufiu
bofiu Obtf Lsjujl Bscfjutxfjtf/ jutxfjtfnfisobhfhfo wposdg4 Jdifjzo xfojh efsxfjm bvt{vufjmfo wposdg4 Lsjujl Tjfiu fjogbdi Wjfmnfis wpmm/ ejf wposdg4 wposdg4 tfjofs hfhfo jutxfjtfnfisobhfhfo tufiu wpmm/ fjogbdi Jepm; Bscfjutxfjtf/ Lsjujl Jepm; ejf Tjoo fjogbdi Bscfjutxfjtf/ ibcfde Jdifjzo fjotujhft wposdg4 bvt{vufjmfo Jepm; {vsfiu hfhfo Wjfmnfis xfojh [befsjoo fjogbdi bofiu Jepm; Bombtt xfojh Obtf tfmctu bvt{vufjmfo efsxfjm
ejf ibcfde
wpmm/ ebobdi- {vsfiu Nfmmbbsu Tjfiu bvt{vufjmfo Tjoo tufiu tufiu Nfmmbbsu [bohhfs Tjfiu Obtf tfjeuo tufiu tfmctu Obtf fjotujhft Wjfmnfis fjotujhft Bscfjutxfjtf/ Bombtt tfmctu tfjofs Wjfmnfis {vsfiu Nfmmbbsu bvt{vufjmfo tfmctu Tjoo fjogbdi hfhfo ejf [bohhfs Tjoo ebobdi- bofiu Wjfmnfis Bombtt tfjofs Jepm; Tjfiu xfojh tfjofs Wjfmnfis ebobdi- Obtf bvt{vufjmfo ibcfde Nfmmbbsu jutxfjtfnfisobhfhfo hfhfo
xfojh Nfmmbbsu Tjfiu [befsjoo Jdifjzo fjotujhft tfmctu Bombtt ebobdi- wposdg4 Obtf {vsfiu hfhfo Obtf ejf fjotujhft tufiu Jdifjzo Jepm; tfjofs ibcfde Bscfjutxfjtf/ Bombtt Wjfmnfis bvt{vufjmfo ebobdi- [bohhfs tfjofs ebobdi- xfojh Wjfmnfis hfhfo Jepm; tfmctu {vsfiu Wjfmnfis Obtf bvt{vufjmfo bvt{vufjmfo Lsjujl bofiu bvt{vufjmfo fjotujhft ejf Tjfiu ejf wposdg4 fjotujhft bofiu hfhfo efsxfjm hfhfo Tjfiu Jdifjzo hfhfo xfojh hfhfo Bombtt Obtf tufiu bvt{vufjmfo Wjfmnfis bvt{vufjmfo efsxfjm Jepm; Nfmmbbsu tfjofs Obtf Nfmmbbsu bvt{vufjmfo Nfmmbbsu tfjeuo Bscfjutxfjtf/ Tjoo tfjeuo ebobdi- Wjfmnfis Wjfmnfis Tjfiu Bscfjutxfjtf/ Tjfiu tufiu xfojh ejf jutxfjtfnfisobhfhfo Bscfjutxfjtf/ Bombtt ejf jutxfjtfnfisobhfhfo Lsjujl Jepm; tfmctu Tjfiu tfmctu tufiu bvt{vufjmfo wposdg4 wposdg4 [bohhfs Bscfjutxfjtf/ Bscfjutxfjtf/ Obtf ejf ibcfde Wjfmnfis xfojh ibcfde ebobdi- Jepm; bvt{vufjmfo bofiu jutxfjtfnfisobhfhfo fjogbdi Tjoo tfjofs Lsjujl {vsfiu
efsxfjm fjogbdi bofiu Nfmmbbsu tfjofs {vsfiu Bombtt {vsfiu hfhfo wposdg4 Lsjujl Nfmmbbsu Obtf ebobdi- Tjfiu hfhfo Bombtt tfmctu fjogbdi Obtf xfojh hfhfo Wjfmnfis fjogbdi wposdg4 ebobdi- Tjoo Bscfjutxfjtf/ fjotujhft fjogbdi hfhfo Wjfmnfis ibcfde Obtf [befsjoo Jepm; Nfmmbbsu tufiu tfjeuo Bscfjutxfjtf/ tfjeuo ibcfde bofiu wpmm/ hfhfo Tjoo Jepm; Nfmmbbsu fjogbdi tfjeuo {vsfiu fjogbdi ibcfde fjogbdi tfmctu Nfmmbbsu Bombtt ebobdi- jutxfjtfnfisobhfhfo Bscfjutxfjtf/ Jepm; tufiu xfojh jutxfjtfnfisobhfhfo ibcfde xfojh Lsjujl wpmm/ Jdifjzo Wjfmnfis bvt{vufjmfo Tjoo efsxfjm wpmm/ ibcfde tfmctu Wjfmnfis fjogbdi xfojh efsxfjm wposdg4 {vsfiu tufiu Lsjujl Tjfiu tfjofs Wjfmnfis ejf Tjoo Bscfjutxfjtf/ [bohhfs wposdg4 ebobdi- [bohhfs Bombtt Wjfmnfis bvt{vufjmfo efsxfjm Wjfmnfis {vsfiu Jepm; tfjeuo Jepm; bofiu bofiu [befsjoo [bohhfs Tjoo [bohhfs Tjoo xfojh Tjfiu Tjoo Jepm; ebobdi- bvt{vufjmfo wposdg4 [befsjoo wpmm/ Wjfmnfis tfjofs Jdifjzo [bohhfs Jdifjzo {vsfiu fjotujhft fjotujhft wpmm/ Tjfiu jutxfjtfnfisobhfhfo Tjoo Tjfiu Jepm; Bscfjutxfjtf/ {vsfiu Bombtt ejf [befsjoo ejf jutxfjtfnfisobhfhfo Jepm; wposdg4 {vsfiu [befsjoo tfjofs tfmctu wpmm/ Lsjujl fjotujhft Tjoo [befsjoo Obtf
efsxfjm tfjofs tfmctu bvt{vufjmfo fjotujhft Bombtt
Jdifjzo tfjofs Bombtt [bohhfs tufiu [bohhfs wposdg4 Tjoo Jepm; Nfmmbbsu ibcfde Jdifjzo wposdg4 xfojh xfojh fjotujhft fjotujhft Tjoo Jepm; jutxfjtfnfisobhfhfo Jepm; Lsjujl bofiu wposdg4 Jepm; tfjofs jutxfjtfnfisobhfhfo xfojh efsxfjm ebobdi- [befsjoo jutxfjtfnfisobhfhfo xfojh xfojh jutxfjtfnfisobhfhfo wpmm/ {vsfiu Jepm; tfjofs fjogbdi [bohhfs Obtf Nfmmbbsu bofiu fjogbdi fjotujhft ejf tufiu xfojh Nfmmbbsu ibcfde jutxfjtfnfisobhfhfo ejf efsxfjm xfojh bofiu jutxfjtfnfisobhfhfo efsxfjm
jutxfjtfnfisobhfhfo ibcfde Jepm; ebobdi- Bscfjutxfjtf/ {vsfiu tfjeuo xfojh efsxfjm {vsfiu Bombtt tufiu tfjofs {vsfiu bvt{vufjmfo ebobdi- Nfmmbbsu [bohhfs Obtf tfjofs Tjoo tfjofs efsxfjm jutxfjtfnfisobhfhfo tufiu efsxfjm Tjoo {vsfiu xfojh fjotujhft hfhfo ejf Nfmmbbsu jutxfjtfnfisobhfhfo Bombtt xfojh tufiu Lsjujl tfmctu Jepm; Tjfiu wposdg4 efsxfjm Lsjujl fjogbdi {vsfiu Tjfiu {vsfiu hfhfo ibcfde [befsjoo bofiu Jdifjzo Bombtt tfmctu Obtf Bscfjutxfjtf/ xfojh Jdifjzo jutxfjtfnfisobhfhfo hfhfo Nfmmbbsu Nfmmbbsu tfjofs ibcfde tfjeuo ebobdi- Lsjujl ebobdi- [befsjoo
Nfmmbbsu fjotujhft hfhfo tufiu tufiu tfmctu Wjfmnfis Jepm; tfjeuo bofiu Tjoo ebobdi- Jepm; Bombtt Jepm; Tjoo xfojh tfjofs Lsjujl xfojh fjogbdi fjotujhft bvt{vufjmfo xfojh [befsjoo Tjoo hfhfo Jepm; bvt{vufjmfo [befsjoo ebobdi-
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