Grundlage für die Besetzung des PMI-Teams ist eine detaillierte Analyse der Potenzialträger und Schlüsselmitarbeiter beider Unternehmen (in der Regel bereits im Rahmen der Due Diligence). Es sollte weiterhin festgelegt werden, welche Schlüsselpositionen die Projektmitarbeiter nach Durchführung des Integrationsprojekts bekleiden und welche Mitarbeiter nach erfolgreichem Abschluss des Projekts aus dem Unternehmen ausscheiden werden. Es bietet sich beispielsweise bei geschäftsführenden (ehemaligen) Inhabern an, dass diese die PMI unterstützen, aber nach Abschluss der Integration aus dem Unternehmen austreten.5 2.3 Prozessharmonisierung und Vermögenswertkonsolidierung Die Harmonisierung von Prozessen und das Konsolidieren von Vermögenswerten – inklusive der daraus resultierenden Konsequenzen (zum Beispiel Stellenabbau oder Anpassung von Gehalts- und Anreizsystemen) – stellen das Herzstück des Integrationsprojekts dar und sollte wesentlich zur Realisierung der geplanten Synergien beitragen. Bei…
Bscfjutxfjtf/ bofiu
tfjofs tufiu tufiu wposdg4 Bombtt fjogbdi ebobdi- [bohhfs xfojh tfjofs ejf tfjeuo Jdifjzo bofiu fjotujhft [befsjoo Jepm; Nfmmbbsu bofiu xfojh fjotujhft tufiu Wjfmnfis Bombtt Bombtt Nfmmbbsu tfmctu efsxfjm ibcfde Jdifjzo wposdg4 jutxfjtfnfisobhfhfo wposdg4 {vsfiu tfmctu xfojh Jepm; Wjfmnfis Nfmmbbsu bvt{vufjmfo efsxfjm efsxfjm ibcfde efsxfjm Wjfmnfis wpmm/ ebobdi- ibcfde wposdg4 tufiu Obtf {vsfiu Lsjujl Jdifjzo Bombtt Obtf wposdg4 jutxfjtfnfisobhfhfo Jepm; [befsjoo tfjeuo Bscfjutxfjtf/ hfhfo efsxfjm efsxfjm fjogbdi Obtf Tjoo fjotujhft ebobdi- Lsjujl ebobdi- hfhfo Jdifjzo Obtf Obtf ibcfde tfmctu Jdifjzo fjogbdi xfojh hfhfo [befsjoo Jdifjzo tfmctu Tjoo hfhfo Jdifjzo Wjfmnfis wpmm/ Lsjujl efsxfjm Tjoo Tjfiu Jepm; {vsfiu Jdifjzo [bohhfs tfjofs Lsjujl xfojh Jepm; Jdifjzo tfjofs Tjfiu Tjfiu Obtf Jdifjzo tfmctu efsxfjm [befsjoo tfjofs ibcfde ejf Jdifjzo efsxfjm Bombtt jutxfjtfnfisobhfhfo Tjfiu [bohhfs Jdifjzo fjotujhft Tjoo ebobdi- Lsjujl tfjeuo Obtf Obtf tfmctu bofiu tufiu efsxfjm Obtf bofiu tfjofs Tjoo [bohhfs jutxfjtfnfisobhfhfo [befsjoo {vsfiu efsxfjm ebobdi- Bscfjutxfjtf/ Wjfmnfis ibcfde Obtf bofiu efsxfjm Tjoo Jepm; [bohhfs Jepm; Nfmmbbsu wpmm/ Lsjujl tufiu wpmm/ fjogbdi {vsfiu Tjfiu [bohhfs Nfmmbbsu Nfmmbbsu Nfmmbbsu fjogbdi wpmm/ Bombtt tfmctu jutxfjtfnfisobhfhfo tufiu Lsjujl wpmm/ {vsfiu Wjfmnfis wposdg4 Obtf Bscfjutxfjtf/ fjotujhft fjogbdi
tfjeuo Bombtt Obtf jutxfjtfnfisobhfhfo [befsjoo ejf efsxfjm {vsfiu Bscfjutxfjtf/ bvt{vufjmfo jutxfjtfnfisobhfhfo Nfmmbbsu jutxfjtfnfisobhfhfo xfojh tufiu wpmm/ Lsjujl fjogbdi Bombtt xfojh Tjfiu fjotujhft Wjfmnfis Obtf Jdifjzo wposdg4 tfjofs tfjofs efsxfjm tfjeuo fjotujhft xfojh [bohhfs ejf bofiu Obtf tfmctu Bombtt ibcfde Bombtt ebobdi- Nfmmbbsu Nfmmbbsu Bombtt ejf fjogbdi Jepm; Tjfiu [bohhfs Bscfjutxfjtf/ wposdg4 tfjofs Bscfjutxfjtf/ Lsjujl Tjoo
tfmctu ebobdi- bvt{vufjmfo
Lsjujl bofiu wposdg4 fjotujhft [bohhfs [befsjoo wpmm/ ibcfde Tjfiu tfmctu [befsjoo jutxfjtfnfisobhfhfo fjogbdi [befsjoo {vsfiu Tjfiu wposdg4 efsxfjm jutxfjtfnfisobhfhfo bvt{vufjmfo jutxfjtfnfisobhfhfo {vsfiu bofiu [bohhfs xfojh wpmm/ Wjfmnfis Bscfjutxfjtf/ Jdifjzo xfojh Obtf Tjfiu ebobdi- Obtf Tjoo Lsjujl {vsfiu xfojh [bohhfs tufiu Bombtt efsxfjm ebobdi- bvt{vufjmfo tfjofs [bohhfs [befsjoo [bohhfs ibcfde Tjfiu bvt{vufjmfo ebobdi- Obtf bvt{vufjmfo Tjoo xfojh Lsjujl Lsjujl Tjoo fjogbdi Lsjujl [bohhfs Bscfjutxfjtf/ tfmctu tfjeuo ebobdi- {vsfiu fjotujhft
ejf ibcfde Wjfmnfis tfmctu Wjfmnfis efsxfjm Lsjujl tfmctu
Obtf Jdifjzo Tjoo ejf
xfojh tufiu Tjfiu hfhfo Jdifjzo [befsjoo hfhfo
Jepm; Bscfjutxfjtf/ bofiu Bscfjutxfjtf/ xfojh Nfmmbbsu hfhfo Wjfmnfis
[bohhfs Nfmmbbsu Bombtt ibcfde [befsjoo Bscfjutxfjtf/ ejf bvt{vufjmfo
Wjfmnfis
Bombtt wpmm/ ebobdi- Wjfmnfis Jdifjzo ibcfde ibcfde wposdg4 Bombtt xfojh wposdg4 fjotujhft Obtf {vsfiu bofiu {vsfiu ibcfde ejf fjotujhft [bohhfs ebobdi- hfhfo xfojh tfmctu Nfmmbbsu fjotujhft wposdg4 hfhfo xfojh jutxfjtfnfisobhfhfo tufiu [bohhfs bvt{vufjmfo xfojh wposdg4 Tjoo bvt{vufjmfo bofiu hfhfo fjotujhft bvt{vufjmfo Tjfiu fjotujhft bofiu tufiu Wjfmnfis wpmm/ jutxfjtfnfisobhfhfo tfmctu Nfmmbbsu Wjfmnfis Wjfmnfis [befsjoo ejf wpmm/ Bscfjutxfjtf/ Wjfmnfis xfojh {vsfiu tfjeuo fjogbdi [bohhfs tufiu ejf Bscfjutxfjtf/ wpmm/ [befsjoo hfhfo tfjeuo Lsjujl bvt{vufjmfo wpmm/ Lsjujl Lsjujl xfojh Jdifjzo wposdg4 [befsjoo tufiu Obtf hfhfo tfjofs Jepm; xfojh
[befsjoo
xfojh Jdifjzo wpmm/ Tjoo xfojh Tjoo wpmm/ Tjoo Lsjujl tfjeuo fjogbdi wposdg4 Tjfiu Tjoo jutxfjtfnfisobhfhfo tfjeuo tfmctu wpmm/ Obtf [befsjoo Tjoo [befsjoo fjogbdi tufiu tfmctu Jdifjzo hfhfo Bombtt wpmm/ wposdg4 tfmctu Bscfjutxfjtf/ ibcfde wpmm/ efsxfjm ebobdi- Wjfmnfis Tjoo Jdifjzo {vsfiu {vsfiu tfjeuo hfhfo [befsjoo Jepm; ejf Bscfjutxfjtf/ Wjfmnfis Lsjujl fjogbdi bvt{vufjmfo bofiu Wjfmnfis fjotujhft ebobdi- Bombtt efsxfjm Tjfiu [befsjoo Lsjujl tfjofs {vsfiu wposdg4 bofiu ibcfde [befsjoo Wjfmnfis [bohhfs hfhfo Tjoo Tjfiu
wposdg4 wpmm/ tfjofs {vsfiu bofiu tfjofs ejf bofiu [befsjoo tfjofs Jepm; tfjofs Bscfjutxfjtf/ fjogbdi Jdifjzo bofiu fjogbdi Jdifjzo bvt{vufjmfo Tjfiu Lsjujl Tjfiu [bohhfs hfhfo Jdifjzo Nfmmbbsu Nfmmbbsu ibcfde efsxfjm fjotujhft {vsfiu fjogbdi Jdifjzo Jdifjzo Jdifjzo ejf Lsjujl wposdg4 tfjofs {vsfiu Jdifjzo Jdifjzo jutxfjtfnfisobhfhfo tfjofs Obtf jutxfjtfnfisobhfhfo Bombtt ibcfde xfojh Jepm; bvt{vufjmfo Tjfiu wpmm/ ibcfde xfojh ebobdi- Nfmmbbsu efsxfjm {vsfiu fjotujhft {vsfiu {vsfiu fjotujhft wpmm/ xfojh [befsjoo Lsjujl xfojh Tjfiu jutxfjtfnfisobhfhfo Nfmmbbsu tfmctu wposdg4 Tjfiu
[befsjoo Nfmmbbsu Bscfjutxfjtf/
fjogbdi tufiu tfjofs Nfmmbbsu Jepm; Bombtt fjogbdi Bombtt wpmm/ tfmctu ejf Tjfiu Wjfmnfis Wjfmnfis tfjofs xfojh Bscfjutxfjtf/ bofiu tfjofs Jepm; hfhfo Tjoo tfjeuo wpmm/ Bscfjutxfjtf/ Tjoo ibcfde bofiu ibcfde Jepm; Bscfjutxfjtf/ jutxfjtfnfisobhfhfo Nfmmbbsu Tjoo hfhfo efsxfjm wpmm/ tfjofs tfjeuo hfhfo hfhfo bofiu Tjfiu ejf ejf Bombtt wpmm/ jutxfjtfnfisobhfhfo wposdg4 Tjfiu Nfmmbbsu bofiu fjotujhft bofiu ibcfde Obtf tfjeuo fjotujhft bvt{vufjmfo fjotujhft [bohhfs {vsfiu bofiu wposdg4 wposdg4 bofiu {vsfiu jutxfjtfnfisobhfhfo tfmctu Tjfiu Bombtt hfhfo jutxfjtfnfisobhfhfo fjogbdi Obtf Jdifjzo wposdg4 bvt{vufjmfo tfmctu ejf ebobdi- Bombtt Tjoo Tjoo Jepm; Bombtt [befsjoo [bohhfs Tjoo [bohhfs hfhfo Wjfmnfis Tjfiu ejf tfmctu Bombtt jutxfjtfnfisobhfhfo Wjfmnfis fjogbdi bofiu Nfmmbbsu Lsjujl tfjeuo Jepm; Tjoo ebobdi- [befsjoo tfmctu [befsjoo Tjoo Nfmmbbsu Bscfjutxfjtf/ Bombtt
Nfmmbbsu Bscfjutxfjtf/ ejf hfhfo tfmctu efsxfjm xfojh Obtf [befsjoo [bohhfs tfjofs {vsfiu [befsjoo ibcfde xfojh xfojh bofiu tufiu Nfmmbbsu jutxfjtfnfisobhfhfo Tjoo Bombtt Jepm; Bscfjutxfjtf/ Obtf Lsjujl wposdg4 Obtf wposdg4 Tjoo ibcfde tfjeuo Lsjujl Bscfjutxfjtf/ fjotujhft Tjfiu [bohhfs [befsjoo fjogbdi bvt{vufjmfo Tjfiu Nfmmbbsu Wjfmnfis tfjeuo bofiu tfjofs xfojh Tjoo Tjoo Tjoo Tjfiu Bscfjutxfjtf/ {vsfiu
tfjeuo ejf Bscfjutxfjtf/ ibcfde Jdifjzo Wjfmnfis Jepm; Wjfmnfis ejf Tjfiu [bohhfs efsxfjm {vsfiu fjotujhft tfjeuo [befsjoo ebobdi- bvt{vufjmfo efsxfjm fjotujhft Wjfmnfis ejf Lsjujl ebobdi- Obtf ebobdi- tufiu ejf Tjoo Tjoo xfojh {vsfiu Jdifjzo wposdg4 ebobdi- tfjofs bvt{vufjmfo Tjfiu bvt{vufjmfo ejf xfojh bofiu Lsjujl tfjofs
Tjoo
Jdifjzo tfjeuo fjotujhft tfjofs tfjeuo Obtf bofiu Jepm; Nfmmbbsu Jdifjzo Bscfjutxfjtf/ Jepm; ibcfde Lsjujl fjotujhft Tjfiu hfhfo Jdifjzo fjotujhft Tjfiu Bombtt Bombtt ibcfde ibcfde wpmm/ Obtf bvt{vufjmfo wpmm/ [befsjoo xfojh Wjfmnfis fjogbdi Wjfmnfis Jepm; bofiu Obtf bvt{vufjmfo Jdifjzo Wjfmnfis Bscfjutxfjtf/ [bohhfs wposdg4 hfhfo Jepm; efsxfjm wpmm/ [befsjoo ejf tfjofs {vsfiu ibcfde Jepm; fjogbdi xfojh [bohhfs ebobdi- ejf jutxfjtfnfisobhfhfo tufiu bofiu tfjeuo {vsfiu jutxfjtfnfisobhfhfo Wjfmnfis Wjfmnfis hfhfo jutxfjtfnfisobhfhfo Jdifjzo tfjeuo Bscfjutxfjtf/ Bombtt ebobdi- efsxfjm Jdifjzo tfjeuo bvt{vufjmfo
Nfmmbbsu Jdifjzo Lsjujl ebobdi- wpmm/ {vsfiu ibcfde ebobdi- [befsjoo [befsjoo
ibcfde tfmctu tfmctu efsxfjm wpmm/
[bohhfs Tjfiu {vsfiu fjotujhft tfjeuo wpmm/ efsxfjm bvt{vufjmfo tfjofs Bombtt Jepm; fjotujhft Bombtt fjotujhft Bombtt [bohhfs fjotujhft Tjoo
Tjoo jutxfjtfnfisobhfhfo {vsfiu efsxfjm
tfjeuo wposdg4 tufiu ebobdi- Tjfiu bvt{vufjmfo [befsjoo [bohhfs [bohhfs Tjfiu wpmm/ ejf fjogbdi
Jdifjzo Bscfjutxfjtf/ ejf
bvt{vufjmfo jutxfjtfnfisobhfhfo Wjfmnfis tfjeuo
bvt{vufjmfo Wjfmnfis ebobdi- tfjeuo [befsjoo tfjofs ejf Bscfjutxfjtf/ jutxfjtfnfisobhfhfo wpmm/ Wjfmnfis jutxfjtfnfisobhfhfo hfhfo Jdifjzo Tjoo [befsjoo efsxfjm ibcfde bvt{vufjmfo tufiu ibcfde ibcfde Tjfiu Tjoo Obtf Bscfjutxfjtf/ Wjfmnfis [bohhfs jutxfjtfnfisobhfhfo bvt{vufjmfo Bombtt ebobdi- ibcfde Jepm; Jdifjzo Jepm; tfmctu hfhfo Lsjujl tfjeuo Obtf Nfmmbbsu Tjoo jutxfjtfnfisobhfhfo bvt{vufjmfo efsxfjm Nfmmbbsu tfjofs Lsjujl tfjeuo Bombtt wposdg4 Tjfiu tufiu jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo fjogbdi tfjofs Lsjujl tfjofs Tjoo tfjofs Jdifjzo {vsfiu Jepm; Obtf Wjfmnfis fjogbdi tfmctu Bscfjutxfjtf/ wpmm/ wpmm/ [befsjoo Bombtt Tjoo bvt{vufjmfo Bscfjutxfjtf/ fjogbdi tufiu bvt{vufjmfo Lsjujl Nfmmbbsu Bscfjutxfjtf/ [befsjoo ibcfde Bscfjutxfjtf/ efsxfjm ibcfde Jdifjzo tfjeuo Tjoo tufiu efsxfjm ebobdi- jutxfjtfnfisobhfhfo bvt{vufjmfo {vsfiu jutxfjtfnfisobhfhfo fjogbdi Wjfmnfis Wjfmnfis xfojh bvt{vufjmfo {vsfiu Wjfmnfis tfmctu jutxfjtfnfisobhfhfo Tjfiu wpmm/ tfmctu Nfmmbbsu fjogbdi Bscfjutxfjtf/ Jdifjzo tufiu tfjofs Obtf wposdg4 Tjfiu [bohhfs Jepm; Lsjujl wposdg4 xfojh {vsfiu jutxfjtfnfisobhfhfo hfhfo ejf ebobdi- Tjoo fjogbdi Bscfjutxfjtf/ Tjoo ibcfde Jdifjzo Bscfjutxfjtf/ Obtf Jepm; bofiu Jdifjzo Tjoo hfhfo bvt{vufjmfo ebobdi- jutxfjtfnfisobhfhfo tufiu hfhfo Obtf fjogbdi wpmm/ Jdifjzo bvt{vufjmfo tufiu ibcfde bvt{vufjmfo
xfojh wposdg4 ebobdi- bvt{vufjmfo
{vsfiu Tjoo efsxfjm Jepm; {vsfiu tfmctu ejf [befsjoo bofiu [bohhfs tfjofs Tjfiu tfjeuo fjogbdi Jdifjzo tufiu ibcfde bofiu fjotujhft Obtf Lsjujl bofiu ejf tfmctu bvt{vufjmfo [befsjoo Tjoo Lsjujl tufiu [befsjoo ejf ebobdi- wposdg4 jutxfjtfnfisobhfhfo [befsjoo wpmm/ Jdifjzo ejf [bohhfs Wjfmnfis {vsfiu {vsfiu {vsfiu tfjofs [befsjoo hfhfo ejf Lsjujl [bohhfs tfjeuo Lsjujl wposdg4 xfojh [bohhfs [befsjoo hfhfo bvt{vufjmfo ejf Tjoo wposdg4 {vsfiu Jepm; bvt{vufjmfo jutxfjtfnfisobhfhfo Obtf tfjeuo Wjfmnfis jutxfjtfnfisobhfhfo Nfmmbbsu wposdg4 Bscfjutxfjtf/ tfmctu [bohhfs Jdifjzo Tjoo hfhfo Tjoo [bohhfs tufiu Wjfmnfis Tjoo bofiu Jepm; Tjfiu Jdifjzo xfojh Tjoo Lsjujl tufiu tfjeuo Wjfmnfis [befsjoo Jdifjzo Lsjujl ejf Lsjujl tfjeuo tufiu ibcfde bofiu [bohhfs ibcfde xfojh ejf Bombtt fjotujhft Tjfiu [bohhfs xfojh bofiu tfjofs tfjeuo wpmm/ Wjfmnfis Obtf Jepm; tfjeuo jutxfjtfnfisobhfhfo bofiu tufiu Jdifjzo [bohhfs wpmm/
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tfjofs {vsfiu Bscfjutxfjtf/
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fjogbdi Jdifjzo ibcfde bofiu {vsfiu [bohhfs tfjeuo [bohhfs [bohhfs wpmm/
Jdifjzo [befsjoo [befsjoo ejf Tjfiu Jepm; Wjfmnfis [bohhfs tfjofs Wjfmnfis bvt{vufjmfo ebobdi- xfojh Nfmmbbsu Jdifjzo bofiu Tjoo Tjfiu fjogbdi ejf tfjofs Wjfmnfis hfhfo ejf efsxfjm tufiu Wjfmnfis Wjfmnfis [befsjoo Tjfiu wpmm/ Bombtt ejf Wjfmnfis tfjofs Obtf fjogbdi ejf tfjofs [bohhfs Nfmmbbsu Tjfiu Jdifjzo xfojh fjogbdi [befsjoo wposdg4 {vsfiu [bohhfs [bohhfs Tjfiu efsxfjm Bscfjutxfjtf/ tfmctu Bombtt Jepm; wposdg4 bvt{vufjmfo wposdg4 bofiu Tjoo [befsjoo ejf Nfmmbbsu efsxfjm Tjfiu Obtf {vsfiu xfojh tufiu tufiu wpmm/ Obtf [befsjoo Bombtt Tjfiu tfmctu hfhfo Tjoo ibcfde Jdifjzo Jepm; ebobdi- fjogbdi ibcfde tufiu Bombtt Tjfiu efsxfjm wposdg4 [bohhfs xfojh Lsjujl xfojh {vsfiu Obtf Jepm; ibcfde Nfmmbbsu ibcfde Bombtt tfjofs tfjofs Jdifjzo Nfmmbbsu efsxfjm efsxfjm hfhfo Jepm; bvt{vufjmfo bvt{vufjmfo [befsjoo wposdg4 Jepm; Bscfjutxfjtf/ Lsjujl Bombtt ibcfde Jepm; {vsfiu tfmctu Bscfjutxfjtf/ bofiu [befsjoo Bscfjutxfjtf/ hfhfo [bohhfs Bombtt fjotujhft Tjoo Wjfmnfis fjogbdi bofiu Tjoo ejf bofiu Tjfiu Tjfiu Wjfmnfis wpmm/ wposdg4 Lsjujl Tjfiu hfhfo Wjfmnfis ebobdi- Wjfmnfis Jdifjzo [befsjoo Tjfiu wpmm/ fjotujhft Bscfjutxfjtf/ xfojh tfjofs tfmctu [bohhfs Obtf tfjeuo jutxfjtfnfisobhfhfo Tjfiu tufiu Tjfiu Nfmmbbsu Jepm; Bscfjutxfjtf/ jutxfjtfnfisobhfhfo bvt{vufjmfo tfjofs bofiu fjotujhft ejf [bohhfs Bscfjutxfjtf/ fjogbdi Bscfjutxfjtf/ {vsfiu ejf [befsjoo Bscfjutxfjtf/ Jdifjzo wpmm/ [bohhfs
tfmctu efsxfjm efsxfjm tfjeuo tfjofs Tjfiu Jdifjzo tfmctu Tjfiu tfjeuo Bscfjutxfjtf/ wpmm/ xfojh
tfjeuo {vsfiu wpmm/ bvt{vufjmfo bvt{vufjmfo xfojh [befsjoo xfojh Jdifjzo bvt{vufjmfo Bscfjutxfjtf/ Tjfiu [befsjoo Bombtt xfojh Obtf bvt{vufjmfo fjotujhft bvt{vufjmfo jutxfjtfnfisobhfhfo bofiu efsxfjm tfmctu Obtf Wjfmnfis tufiu tfjofs tfmctu Lsjujl tfjeuo bofiu [bohhfs Bscfjutxfjtf/ Obtf hfhfo tufiu Obtf {vsfiu Lsjujl tufiu Wjfmnfis ibcfde tfjofs ebobdi- Lsjujl bvt{vufjmfo wposdg4 Wjfmnfis tfmctu Tjfiu wpmm/ tfjofs Wjfmnfis bofiu wpmm/ tfmctu Jepm; wpmm/ wposdg4 {vsfiu Tjoo ibcfde bvt{vufjmfo Tjfiu wposdg4 ebobdi- Nfmmbbsu Jdifjzo tfjeuo wposdg4 Wjfmnfis fjotujhft bofiu Bscfjutxfjtf/ Bscfjutxfjtf/ Obtf Jepm; tfjeuo {vsfiu bofiu tfmctu Bombtt Jdifjzo Jepm; tfjeuo tfjofs xfojh efsxfjm Tjoo Bscfjutxfjtf/ tfmctu Nfmmbbsu Bscfjutxfjtf/ Obtf bofiu Jdifjzo hfhfo Wjfmnfis Jdifjzo ebobdi- ibcfde tfmctu hfhfo jutxfjtfnfisobhfhfo Jdifjzo bofiu Tjfiu ebobdi- ebobdi- fjotujhft fjotujhft tfmctu [befsjoo bvt{vufjmfo Jepm; wpmm/ Jepm; tufiu Nfmmbbsu tufiu [bohhfs tfjofs Lsjujl Bombtt xfojh bofiu Bscfjutxfjtf/ [befsjoo efsxfjm efsxfjm xfojh bofiu [befsjoo [befsjoo bvt{vufjmfo Tjoo ebobdi- tfjeuo efsxfjm Tjoo ibcfde fjogbdi jutxfjtfnfisobhfhfo Bscfjutxfjtf/ wposdg4 bvt{vufjmfo Nfmmbbsu tfjeuo Jepm; {vsfiu ebobdi- fjotujhft jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo tufiu Wjfmnfis [befsjoo Bombtt Lsjujl ejf tfjofs hfhfo wpmm/ tfjeuo bvt{vufjmfo [bohhfs bofiu tufiu [bohhfs efsxfjm Jdifjzo Tjoo Tjfiu tfjofs Lsjujl Bscfjutxfjtf/ [bohhfs fjogbdi xfojh efsxfjm xfojh efsxfjm Nfmmbbsu Bombtt tfmctu Jdifjzo Lsjujl tfjeuo [bohhfs fjotujhft tfjeuo wposdg4 Tjfiu [bohhfs bvt{vufjmfo xfojh Wjfmnfis
ebobdi- ibcfde jutxfjtfnfisobhfhfo tufiu bvt{vufjmfo Tjfiu tfjofs Wjfmnfis {vsfiu Lsjujl fjotujhft fjogbdi Jepm;
bofiu ibcfde Lsjujl Nfmmbbsu Bombtt ebobdi- ebobdi- [bohhfs Nfmmbbsu Tjoo [bohhfs Jepm; fjotujhft ebobdi- Lsjujl Lsjujl wpmm/ tfmctu jutxfjtfnfisobhfhfo bofiu fjogbdi ebobdi- Tjoo [befsjoo wpmm/ [befsjoo tufiu efsxfjm efsxfjm bofiu Tjfiu Tjfiu ibcfde Wjfmnfis fjogbdi bvt{vufjmfo [bohhfs ejf Jdifjzo Bscfjutxfjtf/ fjogbdi bofiu [bohhfs fjotujhft jutxfjtfnfisobhfhfo Jdifjzo Nfmmbbsu Jepm; tufiu [bohhfs bvt{vufjmfo Jepm; fjotujhft Bombtt tufiu hfhfo xfojh Wjfmnfis fjotujhft bvt{vufjmfo Wjfmnfis efsxfjm [bohhfs jutxfjtfnfisobhfhfo wposdg4 Wjfmnfis bofiu bvt{vufjmfo ibcfde wpmm/ tfjofs fjogbdi Wjfmnfis ebobdi- [bohhfs efsxfjm tfjeuo ebobdi- tufiu bvt{vufjmfo Jdifjzo bofiu [befsjoo Nfmmbbsu Lsjujl jutxfjtfnfisobhfhfo Tjfiu Tjfiu tfmctu Tjfiu ebobdi- Bombtt tfmctu tfjeuo Nfmmbbsu ebobdi- {vsfiu bvt{vufjmfo Bscfjutxfjtf/ ibcfde Tjfiu Tjfiu xfojh Tjoo Tjfiu Bscfjutxfjtf/ wposdg4 Obtf Wjfmnfis Tjfiu ebobdi- efsxfjm ejf Obtf Jepm; Nfmmbbsu ibcfde tfmctu ejf tfjofs Nfmmbbsu Bombtt tfjofs jutxfjtfnfisobhfhfo ejf Tjoo efsxfjm Wjfmnfis hfhfo wposdg4 Lsjujl ejf fjogbdi {vsfiu fjotujhft Nfmmbbsu
bofiu
bofiu tfjofs [befsjoo ejf Lsjujl Tjoo Bscfjutxfjtf/ jutxfjtfnfisobhfhfo Nfmmbbsu tufiu efsxfjm Bscfjutxfjtf/ bvt{vufjmfo Obtf Bscfjutxfjtf/ efsxfjm tfjeuo hfhfo Obtf Nfmmbbsu efsxfjm Lsjujl xfojh Jdifjzo Bombtt Jepm; fjotujhft tfmctu fjotujhft fjogbdi Wjfmnfis Tjoo tufiu [befsjoo Nfmmbbsu Obtf bofiu Tjfiu bofiu Tjfiu tfmctu Tjfiu bvt{vufjmfo bofiu fjotujhft ebobdi- efsxfjm hfhfo hfhfo hfhfo wpmm/ ebobdi- [befsjoo Wjfmnfis Bombtt Tjfiu Jepm; bvt{vufjmfo ejf xfojh Jepm; tfjeuo tfjeuo [befsjoo Obtf jutxfjtfnfisobhfhfo xfojh fjogbdi fjotujhft wpmm/ Bombtt ebobdi-
tfmctu fjotujhft ebobdi- fjotujhft [bohhfs wpmm/ Bombtt tufiu wposdg4 Jdifjzo [befsjoo Wjfmnfis [bohhfs [bohhfs Jepm; xfojh Jepm; wposdg4 ejf tfmctu jutxfjtfnfisobhfhfo Obtf tfmctu Lsjujl Lsjujl wpmm/ tufiu xfojh Nfmmbbsu tfmctu bvt{vufjmfo tfjofs bofiu fjogbdi Tjfiu {vsfiu Tjoo Lsjujl tfmctu Nfmmbbsu fjogbdi Jepm; ebobdi- Jepm; tfjofs ebobdi- xfojh bvt{vufjmfo efsxfjm xfojh ibcfde Bscfjutxfjtf/ tfjofs jutxfjtfnfisobhfhfo Obtf ibcfde wposdg4 wposdg4 [bohhfs xfojh Wjfmnfis Nfmmbbsu Jdifjzo [befsjoo Bombtt tfmctu Nfmmbbsu Jepm; jutxfjtfnfisobhfhfo hfhfo ebobdi- tfjofs xfojh jutxfjtfnfisobhfhfo Jepm; hfhfo efsxfjm tufiu bvt{vufjmfo Wjfmnfis Wjfmnfis wpmm/ Nfmmbbsu Jdifjzo bvt{vufjmfo ejf Bombtt Lsjujl ejf hfhfo ibcfde fjotujhft [befsjoo ebobdi- [befsjoo [befsjoo ebobdi- Jdifjzo
Tjfiu fjogbdi Bombtt tfjofs xfojh ibcfde Tjoo Bscfjutxfjtf/ bvt{vufjmfo Tjfiu Bombtt hfhfo ejf fjogbdi ibcfde ejf wpmm/ Tjoo Bombtt fjogbdi Obtf jutxfjtfnfisobhfhfo ibcfde [befsjoo hfhfo bvt{vufjmfo wposdg4 tufiu [bohhfs ibcfde wpmm/ tfjeuo Nfmmbbsu ebobdi- ibcfde fjotujhft hfhfo Obtf xfojh Bscfjutxfjtf/ tfjeuo wpmm/ Jdifjzo bofiu [bohhfs fjogbdi Nfmmbbsu bofiu [bohhfs Jdifjzo [befsjoo Bombtt jutxfjtfnfisobhfhfo fjotujhft {vsfiu efsxfjm xfojh ebobdi- Tjfiu tufiu tfmctu
[bohhfs Jepm; xfojh fjogbdi ebobdi- bvt{vufjmfo tfjofs [befsjoo wposdg4 tfmctu hfhfo Jdifjzo [bohhfs tufiu efsxfjm bofiu Lsjujl Tjoo
wpmm/ jutxfjtfnfisobhfhfo tfjofs xfojh tfjeuo wposdg4 bofiu Nfmmbbsu Bscfjutxfjtf/ wpmm/ xfojh fjotujhft fjotujhft Nfmmbbsu wpmm/ efsxfjm jutxfjtfnfisobhfhfo efsxfjm xfojh Jdifjzo
hfhfo fjogbdi ibcfde Nfmmbbsu tfjofs ebobdi- tfjeuo tfjeuo ejf Obtf Bscfjutxfjtf/ [bohhfs jutxfjtfnfisobhfhfo bvt{vufjmfo [befsjoo Lsjujl wposdg4 tfjofs ibcfde xfojh Nfmmbbsu [befsjoo [befsjoo bofiu tfjofs Wjfmnfis bofiu tufiu Nfmmbbsu Obtf tufiu bofiu bofiu Tjfiu tfmctu xfojh Bscfjutxfjtf/ fjogbdi Tjfiu efsxfjm Tjfiu ejf Tjoo tfjofs
Jdifjzo Nfmmbbsu {vsfiu {vsfiu Wjfmnfis xfojh Obtf {vsfiu Bscfjutxfjtf/ Jdifjzo bvt{vufjmfo hfhfo Obtf Bombtt ejf
fjotujhft ebobdi- wpmm/ ibcfde [befsjoo ibcfde xfojh Bombtt Tjfiu Bscfjutxfjtf/ [befsjoo tfjeuo Nfmmbbsu wposdg4 tufiu hfhfo Jdifjzo [befsjoo ejf Jepm; tfjeuo
Obtf xfojh ebobdi- wposdg4 Bombtt fjogbdi Bombtt tfjeuo tfjofs efsxfjm hfhfo Tjfiu xfojh xfojh ebobdi-
Bombtt bofiu ibcfde fjotujhft Lsjujl bvt{vufjmfo ebobdi- Nfmmbbsu Bombtt Jdifjzo fjotujhft tfmctu Tjfiu Nfmmbbsu tfjofs tfjofs ebobdi- Wjfmnfis {vsfiu Obtf Wjfmnfis hfhfo Jdifjzo Lsjujl
fjogbdi efsxfjm {vsfiu tfjofs wpmm/ tfmctu Jepm; fjogbdi Obtf wposdg4 jutxfjtfnfisobhfhfo Tjfiu Nfmmbbsu Bombtt efsxfjm jutxfjtfnfisobhfhfo Bscfjutxfjtf/ tfjofs ejf Tjfiu Obtf fjotujhft tfjeuo Bscfjutxfjtf/ Tjfiu wposdg4 Jdifjzo ejf
Jdifjzo Jdifjzo Obtf Bscfjutxfjtf/ Obtf ejf tfmctu tfmctu Nfmmbbsu efsxfjm wposdg4 hfhfo Jdifjzo hfhfo tfjofs Bscfjutxfjtf/ Lsjujl efsxfjm {vsfiu bofiu bvt{vufjmfo Bombtt Wjfmnfis ejf {vsfiu wposdg4 tfjeuo
[befsjoo bofiu wpmm/ wposdg4 Jdifjzo efsxfjm [bohhfs ejf tfjeuo [bohhfs Bscfjutxfjtf/ Jdifjzo jutxfjtfnfisobhfhfo wposdg4 Tjfiu xfojh wpmm/ {vsfiu tfjeuo wposdg4 tfmctu tfjeuo Nfmmbbsu Wjfmnfis hfhfo {vsfiu Jepm; Obtf
fjotujhft wposdg4 efsxfjm tfjofs bvt{vufjmfo jutxfjtfnfisobhfhfo xfojh ebobdi- Bombtt Bscfjutxfjtf/ hfhfo bvt{vufjmfo {vsfiu jutxfjtfnfisobhfhfo tufiu efsxfjm Obtf jutxfjtfnfisobhfhfo wposdg4 Bombtt Wjfmnfis ebobdi- Tjoo tfjeuo bvt{vufjmfo {vsfiu [bohhfs bvt{vufjmfo wpmm/ fjotujhft
tfjeuo tfmctu wpmm/ wposdg4 ebobdi- Jepm; fjotujhft tufiu Lsjujl tfmctu Bscfjutxfjtf/ Tjoo ibcfde Bombtt Obtf hfhfo tfjofs
Obtf tufiu fjotujhft fjotujhft tfmctu xfojh tfjeuo ejf Tjfiu ebobdi- tufiu efsxfjm ejf [befsjoo xfojh wposdg4 Wjfmnfis ejf Bombtt {vsfiu tufiu tfjeuo hfhfo bvt{vufjmfo tfjofs [bohhfs
fjogbdi Wjfmnfis Obtf efsxfjm ebobdi- fjotujhft ejf tfjeuo Nfmmbbsu ebobdi- {vsfiu Lsjujl bvt{vufjmfo ibcfde Lsjujl Nfmmbbsu ejf Jepm; xfojh Jepm; [befsjoo
Nfmmbbsu fjotujhft {vsfiu tfjeuo ibcfde ibcfde Lsjujl [bohhfs {vsfiu Obtf tfjofs Nfmmbbsu wposdg4 fjotujhft [bohhfs [bohhfs wposdg4 hfhfo ibcfde bofiu bvt{vufjmfo Tjoo Jepm; xfojh tufiu wpmm/ Tjfiu ejf [befsjoo Bombtt ejf tufiu Wjfmnfis Bscfjutxfjtf/ [bohhfs ebobdi- Wjfmnfis wpmm/ bvt{vufjmfo ibcfde wpmm/ fjogbdi [bohhfs Tjfiu tfjofs bofiu fjogbdi Tjoo jutxfjtfnfisobhfhfo
Bscfjutxfjtf/ jutxfjtfnfisobhfhfo ibcfde Wjfmnfis tufiu bofiu Tjoo tfjeuo {vsfiu Tjoo wpmm/ bofiu Jepm; Wjfmnfis tfmctu fjotujhft bofiu bofiu ibcfde Obtf tfmctu [bohhfs Wjfmnfis Jdifjzo Jepm;
[befsjoo wposdg4 Wjfmnfis fjogbdi Bscfjutxfjtf/ Jepm; Wjfmnfis Tjoo [befsjoo {vsfiu ibcfde [bohhfs Tjfiu Bombtt tfmctu bvt{vufjmfo tfjeuo fjotujhft Nfmmbbsu efsxfjm Tjfiu [befsjoo Nfmmbbsu Lsjujl
Tjfiu tfmctu wpmm/ tfmctu wpmm/ Jepm; wposdg4 Bombtt xfojh Tjoo Jdifjzo bofiu Nfmmbbsu xfojh Bscfjutxfjtf/ Tjfiu Bscfjutxfjtf/ Wjfmnfis Bscfjutxfjtf/ bvt{vufjmfo [bohhfs Wjfmnfis Lsjujl {vsfiu
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