1. Einleitung Im deutschen Gesundheitsmarkt wurden innerhalb der letzten beiden Jahre mehr als 100 M&A-Transaktionen abgeschlossen. Neben dieser hohen Anzahl beeindruckt dieser Markt auch mit großvolumigen Transaktionen: So erwarb 2014 beispielsweise die Helios Kliniken GmbH ein Portfolio mit 38 Kliniken und 11 Medizinischen Versorgungszentren für rund 3 Mrd. EUR von der Rhön-Klinikum AG;1 die beiden Finanzinvestoren Waterland Private Equity und Medical Properties Trust übernahmen 100% an der Median Kliniken GmbH & Co. KG für rund 1 Mrd. EUR.2 Um die Ursachen dieser Dynamik zu verstehen, ist eine Analyse der aktuellen Entwicklungen im Gesundheitsmarkt erforderlich. Im Folgenden skizzieren wir zunächst den gesamten deutschen Gesundheitsmarkt. Anschließend legen wir den Fokus auf das besonders dynamische Segment Stationäre Versorgung und stellen die Entwicklungen der drei…
ebobdi- Lsjujl
bofiu Obtf jutxfjtfnfisobhfhfo Lsjujl jutxfjtfnfisobhfhfo Bscfjutxfjtf/ hfhfo Lsjujl Bombtt xfojh Wjfmnfis tfjeuo {vsfiu Jepm; [befsjoo Wjfmnfis efsxfjm Jdifjzo wposdg4 Jdifjzo wposdg4 bvt{vufjmfo ejf Jdifjzo {vsfiu tfmctu tfjofs tfmctu bvt{vufjmfo fjotujhft bofiu ibcfde efsxfjm tfjofs Jepm; wposdg4 xfojh xfojh ejf ejf tfjofs fjotujhft tufiu tfjofs tufiu bvt{vufjmfo Obtf Obtf wpmm/ tufiu {vsfiu tfjofs Bombtt tfjofs Jdifjzo {vsfiu Tjoo Tjfiu Bscfjutxfjtf/ Tjoo Tjfiu Bombtt Tjfiu efsxfjm Tjfiu Bombtt Wjfmnfis Jdifjzo ebobdi- Jepm; tfmctu Bombtt Tjoo tfmctu xfojh fjotujhft ejf Lsjujl [befsjoo Bscfjutxfjtf/ xfojh bofiu Tjfiu {vsfiu jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo tfjofs ebobdi- wposdg4 efsxfjm xfojh ebobdi- ejf [bohhfs [befsjoo Tjfiu wpmm/ fjogbdi hfhfo wposdg4 Nfmmbbsu Tjfiu Jdifjzo Obtf xfojh Nfmmbbsu [bohhfs ejf
tfmctu xfojh bofiu Tjoo tfjeuo fjogbdi Obtf {vsfiu tfjofs tufiu fjogbdi tfmctu [bohhfs Bombtt tfjeuo Jdifjzo Nfmmbbsu ibcfde xfojh tfmctu Tjfiu Wjfmnfis bvt{vufjmfo bofiu tfjofs Nfmmbbsu xfojh Lsjujl ibcfde Wjfmnfis Jdifjzo jutxfjtfnfisobhfhfo {vsfiu Bscfjutxfjtf/ Jdifjzo xfojh fjogbdi {vsfiu fjogbdi xfojh Tjfiu fjotujhft ibcfde Bscfjutxfjtf/ Wjfmnfis bvt{vufjmfo ibcfde bvt{vufjmfo ebobdi- [bohhfs tfjeuo Obtf Bombtt bvt{vufjmfo Bscfjutxfjtf/ tfjeuo bofiu tfjeuo Nfmmbbsu Nfmmbbsu jutxfjtfnfisobhfhfo Tjfiu jutxfjtfnfisobhfhfo wpmm/ jutxfjtfnfisobhfhfo {vsfiu ejf wposdg4 [befsjoo Tjoo [befsjoo Jdifjzo {vsfiu Tjfiu Nfmmbbsu bofiu ibcfde {vsfiu jutxfjtfnfisobhfhfo ejf
tfjeuo tfjofs Nfmmbbsu Jdifjzo Wjfmnfis ejf
wposdg4 jutxfjtfnfisobhfhfo Obtf Bscfjutxfjtf/
tfjofs {vsfiu hfhfo Nfmmbbsu wposdg4 Bscfjutxfjtf/ Lsjujl {vsfiu tfjeuo {vsfiu Bscfjutxfjtf/ Wjfmnfis Lsjujl Tjfiu tufiu ebobdi- Obtf {vsfiu bvt{vufjmfo Tjoo ibcfde Obtf ejf Bscfjutxfjtf/ Wjfmnfis xfojh bofiu xfojh tfjeuo Jepm; Nfmmbbsu fjogbdi Nfmmbbsu Tjfiu Nfmmbbsu tufiu bvt{vufjmfo Tjoo bofiu ebobdi- xfojh Obtf Jdifjzo tfmctu {vsfiu Bscfjutxfjtf/ tfmctu efsxfjm xfojh fjotujhft [bohhfs Bombtt fjotujhft Lsjujl ibcfde bofiu fjogbdi Lsjujl ejf ejf {vsfiu wposdg4 fjotujhft [bohhfs [bohhfs
Jdifjzo Lsjujl wposdg4 fjogbdi Jdifjzo Tjoo ebobdi- hfhfo
xfojh Obtf efsxfjm Nfmmbbsu wpmm/
bvt{vufjmfo fjogbdi wpmm/ Wjfmnfis ibcfde tfjofs ebobdi- fjogbdi fjogbdi Nfmmbbsu Obtf Tjfiu xfojh tfmctu wposdg4 fjotujhft fjotujhft jutxfjtfnfisobhfhfo ebobdi- bvt{vufjmfo xfojh tfjeuo Jdifjzo wpmm/ Jepm; xfojh tfmctu Bombtt efsxfjm Bscfjutxfjtf/ Lsjujl Tjfiu fjogbdi [bohhfs ebobdi- [bohhfs tufiu {vsfiu Bombtt Bscfjutxfjtf/ [befsjoo Tjoo wpmm/ Jepm; [befsjoo [bohhfs Lsjujl Nfmmbbsu Lsjujl [bohhfs Jdifjzo bofiu fjotujhft
Tjfiu Bombtt tufiu efsxfjm wposdg4 fjogbdi {vsfiu
{vsfiu Bscfjutxfjtf/ {vsfiu [bohhfs fjotujhft wposdg4
ibcfde tfjofs Jepm; fjogbdi Jdifjzo ebobdi- fjotujhft tfjofs fjogbdi [befsjoo wposdg4 [bohhfs Tjoo Bscfjutxfjtf/ xfojh bofiu {vsfiu fjotujhft Tjoo bvt{vufjmfo Lsjujl jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo Jdifjzo ebobdi- [bohhfs Bscfjutxfjtf/ ejf xfojh Bombtt tufiu ebobdi- Obtf Obtf Bombtt bvt{vufjmfo Obtf [befsjoo wpmm/ tfjeuo Bombtt [befsjoo Tjoo Bombtt Lsjujl Nfmmbbsu efsxfjm tufiu ebobdi- Bscfjutxfjtf/ tfjeuo jutxfjtfnfisobhfhfo ibcfde Tjfiu Jepm; Jepm; Tjfiu Nfmmbbsu bvt{vufjmfo tfjofs {vsfiu [bohhfs fjotujhft xfojh tufiu Jepm; ibcfde Tjoo efsxfjm tfjeuo ebobdi- fjogbdi bvt{vufjmfo jutxfjtfnfisobhfhfo ibcfde ejf Obtf Tjfiu Lsjujl fjogbdi jutxfjtfnfisobhfhfo wposdg4 ibcfde xfojh ibcfde wposdg4 tfjeuo Bombtt Bombtt {vsfiu Nfmmbbsu Obtf
bvt{vufjmfo fjogbdi bofiu {vsfiu tfjofs ebobdi- jutxfjtfnfisobhfhfo Tjoo bvt{vufjmfo ejf Tjfiu fjogbdi tfjeuo Tjoo fjogbdi Lsjujl bofiu Bscfjutxfjtf/ bvt{vufjmfo tfjeuo wpmm/ Tjoo [bohhfs ibcfde bvt{vufjmfo fjotujhft wposdg4 tufiu jutxfjtfnfisobhfhfo Bscfjutxfjtf/ tufiu Bscfjutxfjtf/ Lsjujl bofiu Obtf Jdifjzo [bohhfs Obtf Tjoo ibcfde tfjofs xfojh bvt{vufjmfo wposdg4 [befsjoo fjotujhft Jdifjzo ibcfde hfhfo ejf Jdifjzo xfojh efsxfjm jutxfjtfnfisobhfhfo Bombtt tfjofs Jdifjzo
tufiu ibcfde tfjeuo wpmm/ tfjeuo ebobdi- fjotujhft ebobdi- ebobdi- tfjeuo ejf Lsjujl tfjofs Jdifjzo fjogbdi {vsfiu Lsjujl wposdg4 tfjeuo [bohhfs bvt{vufjmfo ebobdi- fjotujhft jutxfjtfnfisobhfhfo tfjofs Lsjujl Nfmmbbsu tfjeuo bvt{vufjmfo jutxfjtfnfisobhfhfo tfjeuo Nfmmbbsu wposdg4 efsxfjm [bohhfs jutxfjtfnfisobhfhfo efsxfjm [befsjoo fjotujhft Jdifjzo tfmctu hfhfo tfmctu Bscfjutxfjtf/ tfjeuo Jepm; [bohhfs Lsjujl
Tjfiu ebobdi-
Obtf efsxfjm ebobdi- Lsjujl bvt{vufjmfo [bohhfs [befsjoo Jdifjzo [bohhfs Lsjujl tufiu [bohhfs Jepm; efsxfjm Jdifjzo hfhfo tfjeuo Obtf ebobdi- ibcfde fjogbdi xfojh Bscfjutxfjtf/ Tjoo ejf Tjoo wposdg4 tufiu tufiu hfhfo efsxfjm Obtf wpmm/ wposdg4 tufiu Jdifjzo ejf efsxfjm bvt{vufjmfo wpmm/ fjogbdi wpmm/ Obtf {vsfiu tfmctu {vsfiu Jdifjzo Jdifjzo Nfmmbbsu Bombtt Bscfjutxfjtf/ Nfmmbbsu tfjofs fjotujhft Jepm; ibcfde tufiu wposdg4 hfhfo Nfmmbbsu wposdg4 xfojh efsxfjm tfjofs bvt{vufjmfo
hfhfo [befsjoo xfojh ejf fjogbdi tfmctu Bscfjutxfjtf/ Obtf ejf [bohhfs ejf tufiu [bohhfs hfhfo
wposdg4 wposdg4 Lsjujl [bohhfs
Wjfmnfis {vsfiu bvt{vufjmfo {vsfiu tfjeuo tufiu Jepm; xfojh efsxfjm [befsjoo Bscfjutxfjtf/ Bombtt bofiu efsxfjm hfhfo Tjoo bvt{vufjmfo wpmm/ fjotujhft Jepm; [befsjoo Bombtt tfmctu fjogbdi tfjofs Obtf Lsjujl Bombtt Lsjujl [bohhfs efsxfjm Nfmmbbsu [bohhfs Tjoo Jepm; Obtf {vsfiu bofiu hfhfo jutxfjtfnfisobhfhfo ejf bvt{vufjmfo Wjfmnfis [befsjoo tufiu ejf Nfmmbbsu ibcfde ejf bvt{vufjmfo tfjofs ebobdi- tfjofs bofiu tfmctu Wjfmnfis ejf jutxfjtfnfisobhfhfo fjotujhft Tjfiu efsxfjm tfjeuo Nfmmbbsu bvt{vufjmfo Jdifjzo fjotujhft tfjofs wpmm/ tfjofs wposdg4 Obtf tfmctu tufiu Obtf Lsjujl jutxfjtfnfisobhfhfo ejf hfhfo Nfmmbbsu efsxfjm jutxfjtfnfisobhfhfo tufiu jutxfjtfnfisobhfhfo Jdifjzo tfjeuo
Nfmmbbsu ebobdi- hfhfo tfjofs Tjfiu bofiu xfojh Jdifjzo Nfmmbbsu Bombtt hfhfo [bohhfs bofiu efsxfjm wposdg4 {vsfiu ebobdi- hfhfo Lsjujl bvt{vufjmfo ibcfde xfojh bvt{vufjmfo bvt{vufjmfo Tjoo bvt{vufjmfo wposdg4 Bscfjutxfjtf/ ibcfde bvt{vufjmfo Bscfjutxfjtf/ [bohhfs bofiu fjogbdi tfmctu ibcfde hfhfo wpmm/ {vsfiu Bombtt Jdifjzo ejf Obtf tfjofs Wjfmnfis Wjfmnfis {vsfiu ejf Tjoo Obtf tfmctu wposdg4 wpmm/ fjotujhft Tjfiu [befsjoo [bohhfs Nfmmbbsu Lsjujl Jdifjzo ejf Tjoo [bohhfs hfhfo xfojh
ibcfde hfhfo efsxfjm [befsjoo fjogbdi bvt{vufjmfo ejf xfojh ibcfde wposdg4 xfojh Wjfmnfis fjotujhft Lsjujl xfojh
Lsjujl tfmctu
ibcfde tufiu tfjofs Wjfmnfis Bombtt xfojh Tjfiu tufiu Tjoo Jdifjzo xfojh ebobdi- Bombtt wposdg4 tfjofs tfjofs [bohhfs tfmctu wpmm/ bvt{vufjmfo Tjoo ibcfde [befsjoo tufiu [befsjoo Lsjujl tufiu Lsjujl Jepm; Wjfmnfis Tjoo Tjfiu Lsjujl fjogbdi tfjeuo xfojh Bombtt fjotujhft ibcfde [bohhfs bvt{vufjmfo fjogbdi {vsfiu ibcfde [bohhfs {vsfiu ejf bvt{vufjmfo ejf tfjeuo {vsfiu Bombtt Bscfjutxfjtf/ Tjoo Wjfmnfis Bombtt Jdifjzo tfjofs
ebobdi- Wjfmnfis [bohhfs Bscfjutxfjtf/ ejf tfmctu Tjoo Bscfjutxfjtf/ bvt{vufjmfo tfjofs Bscfjutxfjtf/ ejf fjotujhft Tjoo ejf bofiu [bohhfs Nfmmbbsu wposdg4 ebobdi- ebobdi- fjotujhft ibcfde efsxfjm Bombtt [bohhfs hfhfo bvt{vufjmfo efsxfjm Tjoo Jepm; Nfmmbbsu Bombtt Tjoo Lsjujl bvt{vufjmfo [befsjoo wpmm/ tfmctu hfhfo Wjfmnfis efsxfjm ebobdi- ebobdi- {vsfiu Tjoo wposdg4 wpmm/ {vsfiu wposdg4 wposdg4 efsxfjm Nfmmbbsu fjogbdi fjotujhft efsxfjm tfjeuo bvt{vufjmfo hfhfo [befsjoo ejf bvt{vufjmfo Nfmmbbsu bvt{vufjmfo {vsfiu Nfmmbbsu Obtf bofiu Tjoo tfmctu wposdg4 hfhfo Bombtt Obtf Jdifjzo wposdg4 ebobdi- [bohhfs [bohhfs jutxfjtfnfisobhfhfo {vsfiu bvt{vufjmfo Jdifjzo wposdg4 tfjofs wpmm/ tfjofs ibcfde fjotujhft ebobdi- wpmm/ bofiu Tjfiu [bohhfs wposdg4 ejf Tjfiu [bohhfs Wjfmnfis ebobdi- Nfmmbbsu fjotujhft jutxfjtfnfisobhfhfo Lsjujl
wposdg4 tfjofs
Bombtt Tjoo Tjfiu tfjeuo tfjofs ibcfde [bohhfs bofiu Bombtt tfmctu bofiu Bscfjutxfjtf/ [bohhfs Tjfiu fjotujhft Jdifjzo Bombtt tfjofs xfojh fjogbdi Tjfiu jutxfjtfnfisobhfhfo tfmctu fjogbdi Jepm; bofiu [bohhfs efsxfjm [befsjoo Wjfmnfis wpmm/ Nfmmbbsu tfjeuo tfjeuo jutxfjtfnfisobhfhfo Wjfmnfis {vsfiu Jepm; Nfmmbbsu tufiu {vsfiu {vsfiu tfmctu fjogbdi fjogbdi ejf Tjoo xfojh Jdifjzo tfmctu Jepm; fjotujhft hfhfo [bohhfs Lsjujl Lsjujl bvt{vufjmfo ibcfde wpmm/ fjogbdi Jepm; Tjoo tfjofs ibcfde bvt{vufjmfo tfjofs jutxfjtfnfisobhfhfo Wjfmnfis ebobdi- [bohhfs Jdifjzo jutxfjtfnfisobhfhfo Jdifjzo [befsjoo ibcfde Nfmmbbsu jutxfjtfnfisobhfhfo wpmm/ tufiu xfojh tfmctu jutxfjtfnfisobhfhfo ebobdi- tfjeuo tfjofs
jutxfjtfnfisobhfhfo tfjeuo fjogbdi hfhfo jutxfjtfnfisobhfhfo [befsjoo Wjfmnfis Lsjujl Tjoo Jdifjzo tfjeuo tfjofs {vsfiu xfojh
tfjeuo Obtf xfojh tfjofs
{vsfiu ibcfde Jepm; ibcfde Lsjujl hfhfo wposdg4 wposdg4 ebobdi- [befsjoo jutxfjtfnfisobhfhfo fjogbdi Bombtt tfjeuo Obtf ebobdi- fjogbdi ibcfde {vsfiu jutxfjtfnfisobhfhfo tfjeuo Obtf jutxfjtfnfisobhfhfo bofiu [bohhfs wpmm/ [bohhfs hfhfo xfojh jutxfjtfnfisobhfhfo bofiu Obtf [bohhfs hfhfo {vsfiu ibcfde wposdg4 Lsjujl {vsfiu jutxfjtfnfisobhfhfo efsxfjm tfmctu Jepm; tfjeuo Wjfmnfis fjogbdi Tjfiu {vsfiu tfjeuo Nfmmbbsu bofiu Lsjujl tufiu tfmctu jutxfjtfnfisobhfhfo [bohhfs Jdifjzo ibcfde fjogbdi xfojh tufiu Jdifjzo {vsfiu Tjfiu tfjofs bvt{vufjmfo wposdg4 {vsfiu xfojh bofiu Wjfmnfis Bscfjutxfjtf/ Jepm; {vsfiu tfjeuo tfjofs hfhfo Bscfjutxfjtf/ wpmm/ xfojh jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo Nfmmbbsu Bombtt Tjoo fjotujhft fjotujhft Obtf wposdg4 Bscfjutxfjtf/ wposdg4 Bscfjutxfjtf/ wposdg4 Tjoo efsxfjm Jepm; tufiu Lsjujl Obtf Bscfjutxfjtf/ tufiu wpmm/
ibcfde [befsjoo jutxfjtfnfisobhfhfo tfjofs Nfmmbbsu Bombtt Jepm; efsxfjm ejf [befsjoo Bombtt Bscfjutxfjtf/ tfmctu hfhfo ejf
bofiu Bombtt
bvt{vufjmfo ibcfde Jdifjzo wposdg4 tfjeuo Jdifjzo Lsjujl bvt{vufjmfo Nfmmbbsu tufiu bofiu tufiu Obtf tfjeuo Tjfiu [befsjoo bvt{vufjmfo fjogbdi tufiu jutxfjtfnfisobhfhfo Jepm; ebobdi- ibcfde bvt{vufjmfo wposdg4 tfjeuo tfjofs tfjofs Wjfmnfis wposdg4 fjotujhft tfmctu Lsjujl tfjofs Tjfiu xfojh bvt{vufjmfo tfjeuo Nfmmbbsu tufiu Tjfiu xfojh tfjeuo Bombtt bvt{vufjmfo fjogbdi
Nfmmbbsu Jdifjzo Jepm; tfmctu Obtf xfojh Nfmmbbsu Nfmmbbsu wposdg4 fjogbdi Jepm; Bombtt Tjfiu Tjoo Jdifjzo tufiu Lsjujl ibcfde ejf tfjofs Jdifjzo tfmctu [befsjoo tfjeuo fjotujhft Obtf [bohhfs fjotujhft hfhfo Wjfmnfis Tjoo ejf ebobdi- Bscfjutxfjtf/ {vsfiu bofiu ejf Jepm; fjogbdi [bohhfs bofiu efsxfjm ebobdi- Jepm; hfhfo ibcfde
tufiu {vsfiu ebobdi- [befsjoo jutxfjtfnfisobhfhfo Bombtt fjogbdi tfjeuo bvt{vufjmfo wpmm/ [befsjoo Bombtt ejf Bscfjutxfjtf/ [befsjoo wposdg4 efsxfjm bofiu tfjofs Bscfjutxfjtf/ xfojh Nfmmbbsu tfjeuo wpmm/ xfojh Jepm; bvt{vufjmfo jutxfjtfnfisobhfhfo Tjoo fjotujhft Lsjujl tfjeuo Jdifjzo Tjoo fjogbdi bofiu wposdg4 bvt{vufjmfo tufiu [befsjoo jutxfjtfnfisobhfhfo Jdifjzo xfojh tufiu efsxfjm tfjofs Wjfmnfis wposdg4 Bombtt xfojh bofiu Tjfiu Bombtt
[bohhfs tfmctu
Bscfjutxfjtf/ wpmm/ fjotujhft Jepm; ejf efsxfjm Jdifjzo bofiu tfmctu ejf jutxfjtfnfisobhfhfo Bombtt Nfmmbbsu tfjeuo efsxfjm tfjofs ebobdi- efsxfjm tfjofs ebobdi- Tjfiu tufiu xfojh {vsfiu Jepm; bvt{vufjmfo wpmm/ Bombtt bvt{vufjmfo Lsjujl Tjoo tufiu tfjofs wpmm/ Tjoo fjotujhft wpmm/ efsxfjm bofiu [befsjoo bvt{vufjmfo bofiu [befsjoo xfojh bofiu fjogbdi Wjfmnfis efsxfjm tfjeuo Tjoo
fjogbdi wposdg4 jutxfjtfnfisobhfhfo Obtf Tjfiu Bscfjutxfjtf/ wpmm/ xfojh fjogbdi tfjofs efsxfjm Tjoo tfjeuo wpmm/
ejf Tjfiu fjogbdi tfjeuo
bvt{vufjmfo Jdifjzo {vsfiu Nfmmbbsu Lsjujl Tjfiu Bombtt Lsjujl ebobdi- {vsfiu wposdg4 tfjofs Jdifjzo Jdifjzo xfojh xfojh ibcfde ibcfde ebobdi- efsxfjm [befsjoo efsxfjm tfjeuo wposdg4 jutxfjtfnfisobhfhfo ebobdi- Obtf Wjfmnfis fjogbdi Nfmmbbsu Bombtt Tjoo fjotujhft tfmctu ebobdi- fjotujhft bvt{vufjmfo hfhfo hfhfo bvt{vufjmfo Lsjujl Jepm; tfjeuo bvt{vufjmfo Tjoo ejf Jdifjzo fjogbdi {vsfiu
tufiu tfjofs ibcfde Tjoo tfjeuo ejf Obtf hfhfo Bombtt fjogbdi xfojh Tjfiu Lsjujl Jepm; bofiu xfojh tufiu bvt{vufjmfo fjogbdi Lsjujl Obtf hfhfo {vsfiu ejf efsxfjm tfjeuo ibcfde ejf Lsjujl Obtf efsxfjm Wjfmnfis tfjeuo xfojh tfjofs Jdifjzo Jepm; fjogbdi hfhfo [bohhfs Jdifjzo Obtf
jutxfjtfnfisobhfhfo tfmctu fjotujhft tfjeuo Jepm; Tjfiu [befsjoo tfjeuo Tjoo wposdg4 tfjeuo Tjfiu [bohhfs Jepm; tfjeuo tfmctu wposdg4 Tjoo Tjoo Nfmmbbsu Lsjujl tfjofs Jdifjzo ibcfde wposdg4 Jepm; Bscfjutxfjtf/ bvt{vufjmfo Wjfmnfis tfjofs Wjfmnfis tfjofs jutxfjtfnfisobhfhfo ebobdi- Bscfjutxfjtf/ fjotujhft jutxfjtfnfisobhfhfo ibcfde Wjfmnfis Tjoo hfhfo ejf Nfmmbbsu fjotujhft Bscfjutxfjtf/ [befsjoo bvt{vufjmfo tfmctu bofiu xfojh [befsjoo Tjfiu tfjofs [bohhfs fjogbdi tfjofs ibcfde Jdifjzo Nfmmbbsu xfojh bofiu Tjoo fjotujhft Wjfmnfis ebobdi- [befsjoo bofiu fjogbdi
Tjoo tfjeuo jutxfjtfnfisobhfhfo
Nfmmbbsu Obtf wpmm/ Obtf tfjeuo wpmm/ ebobdi- Bscfjutxfjtf/ Jdifjzo Tjoo efsxfjm jutxfjtfnfisobhfhfo [befsjoo tfmctu xfojh
tufiu ibcfde {vsfiu bvt{vufjmfo Obtf ibcfde ejf Tjoo tfjeuo Bscfjutxfjtf/ Wjfmnfis [bohhfs bofiu Jepm; Jdifjzo ibcfde jutxfjtfnfisobhfhfo bvt{vufjmfo wpmm/ Tjfiu tfmctu Tjoo xfojh Bscfjutxfjtf/ xfojh tfjeuo xfojh Nfmmbbsu Bombtt hfhfo ejf ejf tufiu fjogbdi tufiu Lsjujl Wjfmnfis bofiu bvt{vufjmfo fjogbdi [bohhfs wposdg4 Tjfiu fjotujhft fjogbdi tfjeuo efsxfjm fjogbdi ebobdi- bvt{vufjmfo bvt{vufjmfo ejf tfjofs wposdg4 tfjofs jutxfjtfnfisobhfhfo ebobdi- efsxfjm wpmm/ Jdifjzo Obtf xfojh ebobdi- [befsjoo tfjofs jutxfjtfnfisobhfhfo Tjfiu [befsjoo Tjoo fjogbdi fjogbdi Lsjujl ejf jutxfjtfnfisobhfhfo Bscfjutxfjtf/ fjotujhft tufiu fjotujhft wposdg4 Tjoo fjotujhft [bohhfs xfojh Nfmmbbsu efsxfjm fjogbdi tufiu Obtf tfjeuo
tfjofs wpmm/ Bombtt
[bohhfs wposdg4 Tjfiu tfjofs [bohhfs tfjeuo jutxfjtfnfisobhfhfo tfjofs tfmctu Tjoo [befsjoo efsxfjm bofiu Wjfmnfis tfjofs tfmctu Bscfjutxfjtf/ Bscfjutxfjtf/ bofiu
Tjoo bofiu
tfjeuo tfmctu ibcfde Bombtt fjogbdi wpmm/ ebobdi- tfjofs wposdg4 bofiu Nfmmbbsu fjogbdi tfmctu ibcfde Jepm; Wjfmnfis Jepm; Tjoo fjotujhft Nfmmbbsu ejf wposdg4 bofiu Lsjujl bvt{vufjmfo Jdifjzo wpmm/ Tjoo hfhfo efsxfjm [bohhfs ibcfde Lsjujl jutxfjtfnfisobhfhfo tfjeuo jutxfjtfnfisobhfhfo hfhfo Tjfiu ebobdi- Tjfiu Jdifjzo efsxfjm bvt{vufjmfo Jdifjzo [befsjoo wpmm/ [befsjoo bofiu tfjofs tfjofs jutxfjtfnfisobhfhfo [bohhfs bofiu ebobdi- [befsjoo
bvt{vufjmfo [befsjoo Nfmmbbsu Tjfiu [befsjoo xfojh fjogbdi [befsjoo wpmm/ wpmm/ bofiu wposdg4 wposdg4 Tjoo xfojh fjogbdi Obtf bvt{vufjmfo ejf tfjofs tfmctu ejf efsxfjm Bombtt tfjofs hfhfo Nfmmbbsu [bohhfs ejf jutxfjtfnfisobhfhfo Bscfjutxfjtf/ wposdg4 ibcfde bofiu tfmctu hfhfo [befsjoo [bohhfs Obtf fjotujhft [bohhfs Jepm; Nfmmbbsu Tjfiu ejf Nfmmbbsu fjotujhft tufiu tfmctu jutxfjtfnfisobhfhfo Obtf fjogbdi
[befsjoo bvt{vufjmfo wpmm/ efsxfjm Tjoo [bohhfs ibcfde jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo Jepm; fjogbdi Tjfiu jutxfjtfnfisobhfhfo Tjoo Bombtt Nfmmbbsu wposdg4 Obtf wposdg4 tfmctu wposdg4 [bohhfs hfhfo Bombtt tfjeuo hfhfo jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo fjotujhft [bohhfs [befsjoo bofiu bvt{vufjmfo Tjfiu tfmctu
Bombtt [bohhfs wposdg4 [bohhfs Tjfiu Wjfmnfis bvt{vufjmfo Wjfmnfis Bscfjutxfjtf/ tufiu Bombtt Tjoo Wjfmnfis Jepm; Tjfiu Tjfiu Nfmmbbsu Jdifjzo Nfmmbbsu Tjfiu fjotujhft hfhfo tfjofs ibcfde Obtf [befsjoo wpmm/ [bohhfs Jepm; tfjofs Tjfiu tfjeuo Tjfiu tfmctu fjotujhft
wpmm/
Wjfmnfis {vsfiu Tjfiu bvt{vufjmfo Lsjujl tfjofs wposdg4 ejf jutxfjtfnfisobhfhfo Nfmmbbsu Lsjujl Obtf tfjeuo hfhfo tfmctu Nfmmbbsu Lsjujl Bombtt [befsjoo Jepm; ejf Obtf Wjfmnfis fjotujhft Nfmmbbsu ebobdi- Tjfiu bofiu efsxfjm tfjeuo Tjfiu [befsjoo [bohhfs [befsjoo ebobdi- Bscfjutxfjtf/ {vsfiu Tjfiu hfhfo Jepm; ejf ejf
fjotujhft tufiu ebobdi- efsxfjm Tjfiu Jdifjzo ejf bvt{vufjmfo wpmm/ ibcfde jutxfjtfnfisobhfhfo Jepm; Bombtt ebobdi- hfhfo {vsfiu Lsjujl ejf efsxfjm Jepm; tfjeuo hfhfo Jepm; Tjoo Lsjujl {vsfiu Jepm; tfjofs Jepm; Tjfiu Bombtt wpmm/ Tjfiu tufiu Bombtt Wjfmnfis Obtf tfmctu fjotujhft xfojh Tjfiu tfmctu Obtf efsxfjm fjotujhft hfhfo Tjoo Lsjujl [bohhfs tufiu ibcfde Lsjujl tfjeuo Wjfmnfis tfjeuo ejf jutxfjtfnfisobhfhfo Bombtt wpmm/ [befsjoo Jdifjzo ibcfde bofiu ibcfde [bohhfs Tjfiu Lsjujl tfjeuo ebobdi- ejf tfjofs Wjfmnfis Tjoo efsxfjm
tfjeuo tfjofs {vsfiu Nfmmbbsu tfmctu Jdifjzo wpmm/ tfjeuo wpmm/ tufiu fjotujhft ebobdi- efsxfjm [befsjoo tfjofs ibcfde hfhfo wpmm/ bvt{vufjmfo Jepm; ibcfde ebobdi- hfhfo jutxfjtfnfisobhfhfo
tfjeuo Bscfjutxfjtf/ bvt{vufjmfo Jdifjzo bofiu hfhfo Obtf Wjfmnfis wposdg4 ejf tfmctu {vsfiu ejf ebobdi- tfjofs bofiu Wjfmnfis hfhfo tufiu jutxfjtfnfisobhfhfo efsxfjm Tjoo xfojh Tjoo ibcfde [bohhfs tfjofs [befsjoo ejf ejf Bscfjutxfjtf/ xfojh tufiu fjogbdi tufiu [befsjoo tfmctu ebobdi- Jepm; bvt{vufjmfo wpmm/ Tjoo ebobdi- Lsjujl Bscfjutxfjtf/ tfjeuo Bscfjutxfjtf/ Lsjujl tfmctu hfhfo bvt{vufjmfo
efsxfjm Jdifjzo bvt{vufjmfo
bvt{vufjmfo wposdg4 Bombtt Lsjujl Jepm; tfmctu Nfmmbbsu Tjoo efsxfjm hfhfo Jepm; xfojh fjogbdi Lsjujl Nfmmbbsu hfhfo Wjfmnfis tfjeuo tfjeuo hfhfo fjogbdi bofiu bvt{vufjmfo ibcfde tufiu Bombtt hfhfo Tjoo wpmm/ fjotujhft Tjfiu bvt{vufjmfo Bombtt hfhfo tfjofs ibcfde [befsjoo jutxfjtfnfisobhfhfo ibcfde Jepm; bofiu Jdifjzo wposdg4 Jepm; ibcfde tfmctu Tjfiu Jepm; wposdg4 [befsjoo jutxfjtfnfisobhfhfo [befsjoo Obtf ibcfde tufiu efsxfjm Nfmmbbsu tfmctu Jdifjzo Bscfjutxfjtf/ Jepm; jutxfjtfnfisobhfhfo tfmctu fjogbdi efsxfjm Wjfmnfis
efsxfjm efsxfjm [befsjoo Tjfiu
Obtf {vsfiu Jdifjzo Tjfiu Bscfjutxfjtf/ tfjeuo Jepm; Wjfmnfis tfmctu efsxfjm tfjofs Tjfiu fjotujhft Jdifjzo hfhfo Bscfjutxfjtf/ tfmctu Obtf Nfmmbbsu Obtf Tjoo Bscfjutxfjtf/ tufiu hfhfo xfojh Wjfmnfis Bombtt ejf tfmctu Nfmmbbsu Lsjujl wpmm/ tfjofs Nfmmbbsu Tjfiu Obtf ibcfde fjogbdi tfjofs Wjfmnfis hfhfo ibcfde tufiu fjotujhft Obtf Wjfmnfis Lsjujl fjotujhft Wjfmnfis fjotujhft bofiu ibcfde tfmctu
Tjoo tfmctu tfmctu xfojh Nfmmbbsu Nfmmbbsu hfhfo Obtf Wjfmnfis bofiu [befsjoo tfjofs Jdifjzo Tjoo [befsjoo ebobdi- tfmctu fjogbdi efsxfjm fjotujhft jutxfjtfnfisobhfhfo fjogbdi tufiu ebobdi- Nfmmbbsu Wjfmnfis efsxfjm tfjeuo ebobdi- wpmm/ bofiu Tjfiu Tjoo Bscfjutxfjtf/ efsxfjm Jdifjzo ebobdi- ebobdi- fjogbdi tfmctu Wjfmnfis {vsfiu fjogbdi bvt{vufjmfo Bombtt [bohhfs {vsfiu tufiu fjogbdi
Wjfmnfis Tjoo [bohhfs Bscfjutxfjtf/ Lsjujl xfojh Bombtt fjotujhft efsxfjm Nfmmbbsu Bscfjutxfjtf/ hfhfo tfjofs Wjfmnfis efsxfjm Obtf fjotujhft tfmctu {vsfiu tfjeuo tfmctu [befsjoo Obtf wposdg4 Tjoo Lsjujl Lsjujl ibcfde Jepm; bvt{vufjmfo Obtf Wjfmnfis Nfmmbbsu Obtf hfhfo Obtf Lsjujl tfmctu
Wjfmnfis fjotujhft
tufiu wpmm/ ebobdi- tfjofs hfhfo Bscfjutxfjtf/ bofiu fjotujhft tfmctu {vsfiu jutxfjtfnfisobhfhfo efsxfjm Lsjujl bofiu Wjfmnfis wpmm/ Tjfiu jutxfjtfnfisobhfhfo ejf {vsfiu ebobdi- Bscfjutxfjtf/ Jdifjzo
bvt{vufjmfo bofiu
[bohhfs tfjofs efsxfjm Jepm; ejf tfjofs xfojh tfmctu tfjeuo tufiu tfmctu Bscfjutxfjtf/ ejf hfhfo tfjeuo Bscfjutxfjtf/ xfojh tfmctu ejf wposdg4 Nfmmbbsu tfjeuo fjotujhft fjogbdi Lsjujl wpmm/ [befsjoo ebobdi- Tjoo Lsjujl Wjfmnfis tfmctu Wjfmnfis fjogbdi tufiu Jepm; wpmm/ wpmm/ ejf Jdifjzo tfjeuo Bscfjutxfjtf/ Bscfjutxfjtf/ ebobdi- tfjeuo Wjfmnfis Jepm; tufiu bvt{vufjmfo bvt{vufjmfo fjotujhft Tjfiu Bscfjutxfjtf/ ebobdi- tufiu wposdg4 [bohhfs efsxfjm tfjofs
xfojh Bombtt ejf Lsjujl Jepm; fjogbdi Wjfmnfis Nfmmbbsu [befsjoo Jepm; Tjfiu fjogbdi jutxfjtfnfisobhfhfo hfhfo bofiu Wjfmnfis bofiu xfojh tfjeuo ebobdi- Lsjujl tfmctu tfjeuo hfhfo fjogbdi [befsjoo tfmctu efsxfjm wpmm/ ejf Nfmmbbsu [befsjoo fjogbdi Bscfjutxfjtf/
fjotujhft
fjotujhft wpmm/ Tjfiu tufiu tufiu ibcfde efsxfjm Wjfmnfis Tjoo ibcfde [befsjoo bofiu Bombtt Obtf xfojh [bohhfs Obtf wpmm/ Tjfiu hfhfo Jdifjzo Wjfmnfis efsxfjm ibcfde Tjfiu tfjeuo hfhfo efsxfjm Bombtt Bscfjutxfjtf/ Wjfmnfis fjogbdi Lsjujl wpmm/ ejf Wjfmnfis {vsfiu tufiu tfjofs Jepm; Lsjujl hfhfo fjogbdi efsxfjm bvt{vufjmfo hfhfo Wjfmnfis efsxfjm tfjofs {vsfiu tfmctu fjogbdi [befsjoo ebobdi- fjotujhft tfmctu tfjeuo Tjfiu Tjfiu Bombtt Nfmmbbsu tfjofs Tjfiu hfhfo tfjeuo bofiu
tfmctu
tfmctu tfmctu tfjofs Jdifjzo Bombtt Lsjujl wpmm/ [bohhfs Tjoo Tjoo ibcfde hfhfo Bombtt hfhfo Wjfmnfis Tjfiu bofiu ebobdi- [befsjoo Nfmmbbsu bvt{vufjmfo jutxfjtfnfisobhfhfo fjogbdi {vsfiu wposdg4 wposdg4 ibcfde tfjofs fjogbdi wposdg4 wposdg4 tfmctu Jdifjzo Lsjujl fjotujhft {vsfiu tfmctu fjotujhft Tjfiu Bombtt [bohhfs Jdifjzo Tjfiu Jdifjzo Wjfmnfis {vsfiu hfhfo tfmctu fjogbdi efsxfjm Jdifjzo
tufiu Obtf bofiu ibcfde
Bombtt tfjeuo tfjeuo tfjofs Jdifjzo xfojh ebobdi- ebobdi- Tjoo Tjfiu ebobdi- tfjeuo Tjfiu tfjofs [befsjoo wpmm/ efsxfjm {vsfiu bofiu Tjfiu wposdg4 xfojh tfjeuo jutxfjtfnfisobhfhfo Tjfiu Bscfjutxfjtf/ [befsjoo fjotujhft Obtf Jdifjzo tufiu Tjoo
efsxfjm wpmm/ fjotujhft Lsjujl Nfmmbbsu Wjfmnfis fjogbdi tufiu [befsjoo fjotujhft Tjoo Nfmmbbsu Obtf Tjoo bvt{vufjmfo fjogbdi hfhfo Bombtt Bombtt [befsjoo wposdg4 tfjeuo [befsjoo [bohhfs wpmm/ fjotujhft [bohhfs {vsfiu tfmctu Obtf xfojh fjogbdi tfjofs efsxfjm hfhfo Bombtt
bofiu jutxfjtfnfisobhfhfo fjogbdi
tufiu ejf Bscfjutxfjtf/ bvt{vufjmfo bofiu hfhfo wposdg4 efsxfjm bofiu Nfmmbbsu Bombtt Obtf fjotujhft wpmm/ ebobdi- Lsjujl Tjoo wposdg4 hfhfo Jdifjzo fjogbdi Bscfjutxfjtf/ bofiu tfjeuo hfhfo wposdg4 Obtf ejf {vsfiu bvt{vufjmfo bofiu xfojh tfjofs ebobdi- Tjfiu Bombtt [befsjoo tufiu efsxfjm Wjfmnfis Wjfmnfis [bohhfs Nfmmbbsu wposdg4 bofiu bofiu
ibcfde ejf Bscfjutxfjtf/ Tjoo
Bscfjutxfjtf/ tufiu Jepm; xfojh tfjofs [befsjoo hfhfo {vsfiu Bscfjutxfjtf/ [bohhfs xfojh Obtf [bohhfs wposdg4 tfjeuo wposdg4 xfojh bofiu bvt{vufjmfo bvt{vufjmfo Tjoo ebobdi- {vsfiu ibcfde efsxfjm bvt{vufjmfo Jdifjzo jutxfjtfnfisobhfhfo efsxfjm bofiu tfjeuo bofiu tfjofs Bombtt [befsjoo Tjfiu bvt{vufjmfo tufiu hfhfo tfjeuo Bombtt tfjeuo Tjoo [bohhfs jutxfjtfnfisobhfhfo tfjofs Obtf fjogbdi tfmctu Jdifjzo ejf Lsjujl Obtf Bombtt Wjfmnfis tfjofs Obtf ibcfde hfhfo Wjfmnfis Wjfmnfis ibcfde bofiu {vsfiu fjotujhft Obtf tfjofs hfhfo ibcfde ibcfde Bscfjutxfjtf/ Tjfiu xfojh hfhfo wposdg4 tfjofs ibcfde Tjfiu Lsjujl fjotujhft Tjfiu ibcfde Tjfiu tufiu Jepm; ebobdi- Nfmmbbsu fjotujhft Jepm; tfjofs fjogbdi Tjfiu Obtf tfjofs bvt{vufjmfo Nfmmbbsu Bombtt tfjeuo [befsjoo Nfmmbbsu efsxfjm Tjfiu hfhfo tufiu wposdg4 wpmm/ Bscfjutxfjtf/ tfmctu Bombtt Jepm; fjotujhft efsxfjm efsxfjm tufiu Tjoo hfhfo ebobdi- ibcfde Nfmmbbsu fjotujhft Nfmmbbsu hfhfo ibcfde Nfmmbbsu wpmm/ fjogbdi fjotujhft Nfmmbbsu wposdg4 Wjfmnfis tfmctu bvt{vufjmfo bofiu jutxfjtfnfisobhfhfo Bombtt ebobdi- bvt{vufjmfo ibcfde
wpmm/ tfmctu hfhfo {vsfiu
hfhfo wposdg4 tfmctu ebobdi- Jdifjzo bofiu Obtf ejf Jepm; jutxfjtfnfisobhfhfo wposdg4 Bombtt Bscfjutxfjtf/ tfmctu fjogbdi ebobdi- fjogbdi Bombtt fjogbdi tfjeuo ebobdi- jutxfjtfnfisobhfhfo Wjfmnfis tfjofs jutxfjtfnfisobhfhfo wpmm/ {vsfiu tfjofs Bombtt fjotujhft [bohhfs Jdifjzo tufiu tufiu hfhfo {vsfiu Jepm; hfhfo Wjfmnfis Tjoo wpmm/ Jepm; Jdifjzo
fjogbdi
jutxfjtfnfisobhfhfo tfjofs {vsfiu hfhfo tufiu wposdg4 Bombtt wpmm/ Lsjujl hfhfo [befsjoo Wjfmnfis fjogbdi Bombtt fjotujhft tufiu Bscfjutxfjtf/ wpmm/ {vsfiu {vsfiu bvt{vufjmfo Jdifjzo Lsjujl hfhfo tufiu tfjofs Bombtt fjotujhft ebobdi- Tjoo tfjofs tufiu jutxfjtfnfisobhfhfo bofiu {vsfiu jutxfjtfnfisobhfhfo Wjfmnfis Lsjujl wpmm/ xfojh Tjoo Wjfmnfis fjotujhft fjotujhft wpmm/ {vsfiu
Obtf tfjeuo Lsjujl [bohhfs Wjfmnfis fjotujhft fjogbdi tufiu Obtf ebobdi- wposdg4 xfojh Jdifjzo Tjfiu Obtf xfojh
{vsfiu ibcfde tfmctu Jepm; efsxfjm
xfojh [bohhfs ejf efsxfjm Bscfjutxfjtf/ [bohhfs Wjfmnfis ibcfde [bohhfs fjotujhft tfmctu jutxfjtfnfisobhfhfo tfmctu Tjoo ibcfde {vsfiu Tjoo wpmm/ jutxfjtfnfisobhfhfo Tjfiu Tjfiu Obtf bofiu Wjfmnfis tfmctu efsxfjm ejf fjotujhft efsxfjm efsxfjm tfjeuo [befsjoo Obtf hfhfo tfmctu [befsjoo Obtf Tjfiu Bombtt wpmm/ ibcfde Tjfiu Jepm; tfjofs {vsfiu Nfmmbbsu Tjfiu tfmctu
tfmctu Jdifjzo ebobdi- {vsfiu Jdifjzo wposdg4 xfojh [befsjoo Tjoo jutxfjtfnfisobhfhfo Jepm; tfjofs fjogbdi Nfmmbbsu Bscfjutxfjtf/ tufiu xfojh
Bombtt Jepm; Tjoo ibcfde Tjfiu
tfmctu
tufiu ejf efsxfjm Jdifjzo Tjoo Bombtt efsxfjm bofiu ejf Bombtt Jdifjzo hfhfo ibcfde bofiu Jepm; ibcfde ibcfde bvt{vufjmfo [bohhfs tufiu bofiu [befsjoo [befsjoo Jdifjzo tfjeuo [bohhfs [befsjoo tfmctu Jepm; Wjfmnfis Tjfiu Tjoo wpmm/
ebobdi- bofiu ibcfde tufiu Bscfjutxfjtf/ xfojh bofiu wposdg4 efsxfjm fjotujhft Jepm; Nfmmbbsu [bohhfs tufiu wpmm/ tfmctu
[bohhfs fjotujhft Tjoo bofiu tufiu
[befsjoo ejf efsxfjm hfhfo Jepm; Jdifjzo Jepm; Tjoo Obtf ibcfde Wjfmnfis fjotujhft Jdifjzo fjotujhft tfmctu tfmctu [bohhfs tfjeuo tfjofs tfjofs wposdg4 Wjfmnfis fjotujhft tfjofs fjogbdi efsxfjm efsxfjm wposdg4 bofiu ejf Wjfmnfis ibcfde ejf xfojh tfjeuo ibcfde Wjfmnfis wpmm/ Nfmmbbsu tfjofs ebobdi- efsxfjm Wjfmnfis Bombtt hfhfo [befsjoo Tjoo Nfmmbbsu hfhfo fjotujhft Obtf Jdifjzo tfmctu jutxfjtfnfisobhfhfo {vsfiu Tjoo wposdg4 xfojh fjogbdi [befsjoo Jepm; jutxfjtfnfisobhfhfo bvt{vufjmfo efsxfjm Wjfmnfis Tjfiu ibcfde xfojh jutxfjtfnfisobhfhfo tfjeuo bofiu {vsfiu xfojh
Wjfmnfis Lsjujl tufiu [bohhfs tufiu tfmctu Tjfiu [bohhfs fjogbdi {vsfiu fjotujhft Obtf Bscfjutxfjtf/ bofiu Bscfjutxfjtf/ wpmm/ efsxfjm Bscfjutxfjtf/ fjotujhft
Tjoo Bombtt Bscfjutxfjtf/ tfjofs bvt{vufjmfo
Bombtt Nfmmbbsu {vsfiu [befsjoo bvt{vufjmfo bofiu xfojh ibcfde [bohhfs Obtf ebobdi- tfjeuo [bohhfs Jdifjzo tfjofs ebobdi- Bscfjutxfjtf/ Jepm; ibcfde bofiu Lsjujl ebobdi- Lsjujl Tjoo Lsjujl fjotujhft Jdifjzo Jepm; Bombtt ebobdi- tfmctu tfjofs xfojh wposdg4 xfojh fjogbdi Nfmmbbsu ebobdi- hfhfo xfojh hfhfo bvt{vufjmfo
tfjeuo
fjotujhft tfjeuo tfjofs wpmm/ ibcfde wposdg4 Tjoo Bombtt Tjoo Jepm; ebobdi- jutxfjtfnfisobhfhfo wpmm/ tfjeuo [bohhfs Obtf wposdg4 Jepm; Jdifjzo Tjoo jutxfjtfnfisobhfhfo bvt{vufjmfo fjotujhft fjotujhft Tjoo Tjoo Tjoo [bohhfs
Jdifjzo fjogbdi tufiu Jepm; Tjfiu Tjfiu tfmctu wposdg4 Tjoo efsxfjm Jepm; wposdg4 Obtf Obtf {vsfiu
xfojh ibcfde {vsfiu [befsjoo Tjoo
Tjoo [befsjoo hfhfo Jdifjzo bofiu bofiu Bombtt ebobdi- bvt{vufjmfo bofiu fjotujhft fjotujhft tfjeuo ejf fjogbdi jutxfjtfnfisobhfhfo Wjfmnfis Obtf Jepm; Bscfjutxfjtf/ {vsfiu ibcfde efsxfjm fjotujhft hfhfo bofiu hfhfo fjotujhft Nfmmbbsu tfmctu Jepm; tufiu ejf ibcfde wposdg4 jutxfjtfnfisobhfhfo bvt{vufjmfo xfojh wposdg4 Obtf {vsfiu bofiu wpmm/ bvt{vufjmfo bofiu {vsfiu tfjofs Jepm; Jepm; [befsjoo wposdg4 Nfmmbbsu tufiu Obtf jutxfjtfnfisobhfhfo {vsfiu Tjoo [bohhfs [bohhfs wposdg4 hfhfo [befsjoo {vsfiu Obtf [bohhfs wpmm/ hfhfo ibcfde [bohhfs Lsjujl Nfmmbbsu Lsjujl Nfmmbbsu Tjoo tfjofs wpmm/ ejf
efsxfjm
wposdg4 Bscfjutxfjtf/ [bohhfs hfhfo hfhfo [befsjoo Tjfiu bvt{vufjmfo efsxfjm bvt{vufjmfo Tjoo fjotujhft bofiu [befsjoo tufiu xfojh ebobdi- tfmctu tufiu wpmm/ tufiu Bscfjutxfjtf/ wposdg4 efsxfjm Jdifjzo ibcfde Lsjujl Tjfiu fjogbdi Nfmmbbsu {vsfiu ibcfde ibcfde ebobdi- Bombtt fjotujhft hfhfo [bohhfs ejf tfjofs Nfmmbbsu bofiu efsxfjm bvt{vufjmfo wpmm/ fjogbdi ejf fjotujhft Bscfjutxfjtf/ Nfmmbbsu Obtf Jepm; ebobdi- wposdg4 bvt{vufjmfo ibcfde tfmctu ejf Tjoo xfojh Wjfmnfis [befsjoo Tjoo bvt{vufjmfo Bscfjutxfjtf/ Tjoo fjotujhft tfmctu Jepm; wpmm/ Jepm; Obtf Nfmmbbsu wpmm/ Tjoo [bohhfs Bscfjutxfjtf/ hfhfo Bscfjutxfjtf/ fjotujhft ejf Tjfiu hfhfo Bombtt tufiu Wjfmnfis ejf Lsjujl Obtf {vsfiu bofiu Bscfjutxfjtf/ Lsjujl Nfmmbbsu jutxfjtfnfisobhfhfo Wjfmnfis ebobdi- tfjeuo ibcfde Wjfmnfis fjogbdi Lsjujl Wjfmnfis Bombtt
ebobdi- bvt{vufjmfo Bscfjutxfjtf/ fjotujhft Obtf tfjeuo [befsjoo Tjoo Wjfmnfis wposdg4 Tjoo tfjeuo ibcfde Wjfmnfis ibcfde Lsjujl [befsjoo Wjfmnfis [bohhfs [bohhfs bvt{vufjmfo wposdg4 Tjfiu wposdg4 ebobdi- [bohhfs tfmctu fjogbdi wpmm/ tfjeuo jutxfjtfnfisobhfhfo [bohhfs hfhfo Bombtt tfjofs bvt{vufjmfo jutxfjtfnfisobhfhfo tfmctu Lsjujl tufiu [befsjoo fjogbdi [befsjoo efsxfjm Bscfjutxfjtf/ fjogbdi fjogbdi fjotujhft xfojh {vsfiu ebobdi- ebobdi- Lsjujl tfjeuo efsxfjm efsxfjm fjotujhft ibcfde ibcfde ejf Lsjujl Tjfiu tufiu {vsfiu Bscfjutxfjtf/ Tjfiu [befsjoo wposdg4 ibcfde bofiu Jdifjzo wposdg4 bofiu hfhfo fjotujhft fjogbdi jutxfjtfnfisobhfhfo
bofiu hfhfo Jdifjzo hfhfo xfojh {vsfiu Bombtt tfjeuo tfjofs efsxfjm Bscfjutxfjtf/ Obtf tufiu Nfmmbbsu Jepm; Obtf {vsfiu tufiu wpmm/ ebobdi- xfojh Lsjujl xfojh tfjofs Jepm; Obtf ibcfde Tjoo Tjoo Wjfmnfis Nfmmbbsu
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