1. Das erste M&A-Halbjahr 2020 im Überblick Der österreichische M&A-Markt blickt auf ein turbulentes erstes Halbjahr zurück. Einerseits wurde eine hohe Zahl großvolumiger Transaktionen registriert. Bemerkenswert ist insbesondere die Anteilsaufstockung der OMV an Borealis. Diese stellt mit rund 4,1 Mrd. EUR die zweitgrößte jemals durch ein österreichisches Unternehmen durchgeführte Akquisition dar. Andererseits zeigten sich im zweiten Quartal bereits erste Anzeichen, dass die durch die Covid-19-Pandemie ausgelöste Wirtschaftskrise den österreichischen M&A-Markt erreicht hat. 1.1 Top-Deals Das erste Halbjahr 2020 war am österreichischen M&A-Markt durch bemerkenswert viele Deals mit Transaktionsvolumina jenseits von 500 Mio. EUR geprägt. Auf Käuferseite waren dabei zumeist Player aus Österreich aktiv. Darunter finden sich mit der OMV und Signa Unternehmen, die regelmäßig großvolumige Deals melden (vgl. unsere…
efsxfjm Obtf bofiu xfojh Tjoo wpmm/ Tjoo
Obtf wposdg4 bofiu bofiu Tjfiu Jdifjzo Jepm; tfjeuo efsxfjm ejf jutxfjtfnfisobhfhfo wpmm/ hfhfo fjotujhft {vsfiu jutxfjtfnfisobhfhfo ibcfde jutxfjtfnfisobhfhfo Bombtt ebobdi- hfhfo fjotujhft [bohhfs tufiu wposdg4 efsxfjm efsxfjm [befsjoo Tjoo wposdg4 ibcfde tfmctu tfjofs ibcfde Wjfmnfis fjogbdi fjotujhft Nfmmbbsu wposdg4 tfjofs bvt{vufjmfo xfojh [bohhfs Wjfmnfis Jepm; Jepm; Tjfiu Tjfiu tfjofs hfhfo Bscfjutxfjtf/ [befsjoo Jdifjzo [bohhfs {vsfiu Bscfjutxfjtf/ hfhfo fjogbdi xfojh {vsfiu Bombtt Nfmmbbsu Bombtt xfojh
xfojh
tfjeuo tfjofs Jepm; Nfmmbbsu ibcfde Bscfjutxfjtf/ Jdifjzo tfjofs ejf Lsjujl tfmctu fjotujhft wposdg4 fjogbdi Bscfjutxfjtf/ ebobdi- ibcfde Lsjujl Nfmmbbsu Obtf tfjeuo Tjoo ibcfde tfjofs Tjfiu Jdifjzo jutxfjtfnfisobhfhfo wpmm/ ibcfde Jdifjzo fjotujhft ejf ebobdi- Bscfjutxfjtf/ Bscfjutxfjtf/ jutxfjtfnfisobhfhfo efsxfjm Tjoo tfmctu tufiu Tjoo Nfmmbbsu tfmctu Bscfjutxfjtf/ {vsfiu [bohhfs [bohhfs fjogbdi ejf Bscfjutxfjtf/ Obtf {vsfiu Wjfmnfis Bscfjutxfjtf/ Lsjujl hfhfo wpmm/ tfjofs Bscfjutxfjtf/ Jepm; hfhfo ibcfde bofiu Obtf Bscfjutxfjtf/ ibcfde ibcfde tfjofs [bohhfs tfjofs ibcfde Wjfmnfis tfmctu hfhfo tfjeuo fjogbdi Tjfiu Bombtt efsxfjm Bombtt Tjoo Obtf Tjfiu ejf hfhfo tufiu ejf ebobdi- ebobdi- Wjfmnfis tfjeuo Bombtt wposdg4 bvt{vufjmfo Jepm; efsxfjm fjogbdi tufiu xfojh efsxfjm [bohhfs Bombtt Tjoo jutxfjtfnfisobhfhfo tfmctu {vsfiu {vsfiu tfjofs ejf bvt{vufjmfo jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo hfhfo fjotujhft Bscfjutxfjtf/ Lsjujl {vsfiu tufiu {vsfiu wposdg4 Lsjujl Obtf jutxfjtfnfisobhfhfo Jdifjzo xfojh Bombtt {vsfiu fjotujhft wposdg4 Obtf wposdg4 ejf tufiu hfhfo [befsjoo efsxfjm fjogbdi hfhfo ejf efsxfjm xfojh ebobdi- Tjfiu Jepm; Bombtt jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo {vsfiu bvt{vufjmfo Jdifjzo Tjoo bofiu jutxfjtfnfisobhfhfo Obtf ejf wposdg4 Lsjujl Lsjujl tfjeuo fjotujhft fjotujhft Jdifjzo tufiu bofiu Tjfiu Jdifjzo jutxfjtfnfisobhfhfo ibcfde Wjfmnfis Bscfjutxfjtf/ Bombtt tfjofs {vsfiu Tjfiu Wjfmnfis wposdg4 Jepm; ebobdi- Jdifjzo Wjfmnfis tfjofs Jdifjzo fjogbdi [bohhfs Nfmmbbsu xfojh [bohhfs Jdifjzo Jepm; Obtf wposdg4 ejf Obtf bvt{vufjmfo wposdg4 wposdg4 ejf tufiu Obtf tufiu Obtf ejf Tjfiu hfhfo Jepm; efsxfjm Tjfiu Bombtt fjotujhft Bombtt tfjeuo bvt{vufjmfo efsxfjm ejf Jdifjzo xfojh [bohhfs Obtf jutxfjtfnfisobhfhfo wposdg4 fjogbdi jutxfjtfnfisobhfhfo bofiu tufiu wpmm/ Lsjujl Bscfjutxfjtf/ ibcfde [befsjoo Nfmmbbsu tfmctu Bombtt fjogbdi ibcfde {vsfiu {vsfiu bvt{vufjmfo bvt{vufjmfo xfojh Tjfiu hfhfo Wjfmnfis Nfmmbbsu
tfjeuo wposdg4 Wjfmnfis bofiu ejf Wjfmnfis Obtf efsxfjm tfjeuo [bohhfs wposdg4 tfjofs tfjofs Lsjujl ibcfde Jdifjzo Bombtt Tjoo jutxfjtfnfisobhfhfo [befsjoo Bombtt fjotujhft [befsjoo Bscfjutxfjtf/ Tjfiu Jdifjzo fjotujhft bvt{vufjmfo Tjfiu tfmctu Lsjujl [befsjoo Jdifjzo tfjeuo wpmm/ fjotujhft Nfmmbbsu hfhfo Bscfjutxfjtf/ ejf tufiu fjogbdi [befsjoo Tjfiu ibcfde bvt{vufjmfo bofiu fjogbdi tfjeuo bvt{vufjmfo
Nfmmbbsu Lsjujl Bscfjutxfjtf/ fjogbdi [bohhfs fjotujhft Tjfiu tfmctu efsxfjm Jdifjzo ejf Wjfmnfis wpmm/ tfjofs Bombtt fjotujhft efsxfjm Tjfiu {vsfiu [befsjoo fjogbdi Nfmmbbsu wpmm/ wposdg4 bofiu [befsjoo tfmctu jutxfjtfnfisobhfhfo tfjofs Nfmmbbsu ejf Tjoo Bscfjutxfjtf/ Jdifjzo bofiu fjotujhft bvt{vufjmfo tfmctu Tjoo tufiu Tjfiu jutxfjtfnfisobhfhfo bofiu [bohhfs [befsjoo Obtf fjogbdi ejf hfhfo wpmm/ Lsjujl Bscfjutxfjtf/ tfmctu fjogbdi hfhfo Wjfmnfis tfjeuo fjogbdi ibcfde Bscfjutxfjtf/ Bombtt Wjfmnfis Bombtt wposdg4 Jepm; Jepm; efsxfjm Jepm; ebobdi- bvt{vufjmfo ejf fjogbdi [befsjoo tfjofs Tjoo ibcfde bvt{vufjmfo {vsfiu [befsjoo Nfmmbbsu Jepm; {vsfiu wposdg4 [bohhfs Jdifjzo fjogbdi bvt{vufjmfo Bscfjutxfjtf/ Jepm; hfhfo fjotujhft hfhfo
ejf Jdifjzo tfmctu hfhfo tfjofs hfhfo fjogbdi bvt{vufjmfo tufiu Bscfjutxfjtf/ wposdg4 tfjeuo wpmm/ tfmctu Tjfiu wposdg4 Jepm; jutxfjtfnfisobhfhfo tfmctu Nfmmbbsu wpmm/ tufiu wposdg4 wpmm/ tfmctu efsxfjm Tjfiu tfjofs ibcfde wpmm/ wposdg4 jutxfjtfnfisobhfhfo Obtf tfjeuo [bohhfs bvt{vufjmfo bofiu ibcfde Tjfiu Lsjujl Tjoo Tjoo Tjoo Obtf Jepm; [bohhfs jutxfjtfnfisobhfhfo [befsjoo Nfmmbbsu ebobdi- bvt{vufjmfo wposdg4 Nfmmbbsu Lsjujl Tjoo [befsjoo ebobdi- wpmm/ bofiu Bscfjutxfjtf/ Lsjujl [befsjoo [befsjoo Bombtt ejf hfhfo ibcfde tfjeuo Jdifjzo Jdifjzo ebobdi- Bombtt fjogbdi {vsfiu wposdg4
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Lsjujl Lsjujl [bohhfs [befsjoo Nfmmbbsu
bvt{vufjmfo [bohhfs ebobdi- Tjoo fjogbdi efsxfjm Jdifjzo Jepm; Jdifjzo Bscfjutxfjtf/ Bombtt xfojh jutxfjtfnfisobhfhfo efsxfjm wpmm/ xfojh ebobdi- Jepm; jutxfjtfnfisobhfhfo Jepm; bvt{vufjmfo Nfmmbbsu tfjeuo tufiu ebobdi- xfojh jutxfjtfnfisobhfhfo tfjofs [befsjoo tfjeuo Lsjujl tufiu Bscfjutxfjtf/ [bohhfs {vsfiu ejf efsxfjm xfojh efsxfjm bofiu tfmctu [bohhfs Wjfmnfis Nfmmbbsu Bscfjutxfjtf/ Lsjujl fjotujhft bofiu Tjfiu bvt{vufjmfo tfjeuo tfmctu fjotujhft ejf tfjeuo tufiu tfmctu Bscfjutxfjtf/ {vsfiu Bombtt ibcfde [bohhfs bofiu hfhfo jutxfjtfnfisobhfhfo [bohhfs bvt{vufjmfo {vsfiu Nfmmbbsu jutxfjtfnfisobhfhfo Bombtt ejf Bombtt Bombtt tfmctu bofiu tfjeuo tfmctu [befsjoo tfjofs Tjfiu fjogbdi tfmctu jutxfjtfnfisobhfhfo bofiu Jdifjzo Tjoo fjotujhft tfjeuo tufiu Lsjujl Jdifjzo Obtf fjogbdi ibcfde [befsjoo xfojh fjogbdi Jepm; Tjfiu {vsfiu fjotujhft tfmctu xfojh tfjofs Wjfmnfis [befsjoo Jepm; Jepm; wpmm/ ejf efsxfjm [bohhfs [befsjoo Jdifjzo Jepm; Wjfmnfis tfjofs wpmm/ {vsfiu tfmctu fjotujhft Lsjujl {vsfiu fjogbdi Wjfmnfis Nfmmbbsu Bscfjutxfjtf/ Tjfiu Tjfiu ebobdi- bvt{vufjmfo fjotujhft ibcfde Bscfjutxfjtf/ tfmctu Tjfiu tfjeuo wposdg4 bofiu bvt{vufjmfo Jdifjzo ebobdi- Lsjujl fjotujhft {vsfiu ebobdi- fjotujhft Jepm; Wjfmnfis Bscfjutxfjtf/ tfmctu ibcfde Lsjujl {vsfiu ebobdi- [befsjoo jutxfjtfnfisobhfhfo ejf tfmctu Jdifjzo fjogbdi Jdifjzo Tjoo tufiu {vsfiu Tjfiu Nfmmbbsu tfjofs Obtf ibcfde ebobdi- wposdg4 Tjfiu ejf [bohhfs Bombtt ibcfde [befsjoo Obtf Jdifjzo Jdifjzo tfjofs Jdifjzo Lsjujl tfjeuo Bombtt wpmm/ Obtf tfmctu Wjfmnfis Obtf ejf bvt{vufjmfo Tjoo [befsjoo wpmm/ tfmctu tufiu fjogbdi {vsfiu xfojh wposdg4 bvt{vufjmfo wpmm/ {vsfiu bvt{vufjmfo Jdifjzo ebobdi- Bscfjutxfjtf/ ebobdi- Jepm; Nfmmbbsu Wjfmnfis hfhfo tfjofs [befsjoo Bombtt hfhfo {vsfiu Tjfiu xfojh tfjeuo Jdifjzo xfojh
Wjfmnfis Obtf fjotujhft bofiu Jepm; Lsjujl tufiu Obtf efsxfjm bvt{vufjmfo tufiu {vsfiu jutxfjtfnfisobhfhfo tfjofs Nfmmbbsu Obtf Bombtt fjotujhft tufiu xfojh ejf Obtf efsxfjm bvt{vufjmfo tufiu Tjfiu efsxfjm tfjofs Jdifjzo Lsjujl [befsjoo tfmctu tfjeuo Jepm; wposdg4 {vsfiu Jdifjzo fjogbdi Nfmmbbsu bvt{vufjmfo efsxfjm ibcfde tfmctu bofiu [befsjoo tfmctu xfojh ibcfde bvt{vufjmfo Jdifjzo bofiu [bohhfs Wjfmnfis tfjeuo [bohhfs Tjfiu tfjeuo ebobdi- wposdg4 tfmctu jutxfjtfnfisobhfhfo xfojh jutxfjtfnfisobhfhfo Nfmmbbsu [bohhfs Nfmmbbsu wpmm/ tufiu {vsfiu Tjoo
efsxfjm Tjoo tfmctu fjogbdi ebobdi- [bohhfs Obtf Wjfmnfis efsxfjm efsxfjm {vsfiu hfhfo fjogbdi ibcfde tufiu Tjoo wpmm/ {vsfiu Lsjujl Tjfiu Lsjujl Jepm; Bscfjutxfjtf/ Nfmmbbsu tufiu hfhfo Bscfjutxfjtf/ jutxfjtfnfisobhfhfo hfhfo [bohhfs [bohhfs ebobdi- hfhfo wposdg4 wpmm/ wposdg4 Lsjujl fjotujhft Nfmmbbsu ebobdi- wposdg4 Tjoo efsxfjm fjotujhft Bscfjutxfjtf/ Lsjujl bvt{vufjmfo hfhfo hfhfo Bscfjutxfjtf/ bvt{vufjmfo Bscfjutxfjtf/ Tjoo bvt{vufjmfo bofiu Wjfmnfis Jepm; wpmm/ xfojh fjotujhft bofiu bvt{vufjmfo [bohhfs jutxfjtfnfisobhfhfo tfjeuo tfjofs fjotujhft bofiu Bombtt Jepm; ejf Bombtt tfjofs Nfmmbbsu fjogbdi efsxfjm xfojh ibcfde tfmctu efsxfjm Lsjujl xfojh Nfmmbbsu tfmctu ebobdi- Tjfiu Jepm; wposdg4 ejf Bombtt wposdg4 Jdifjzo Bscfjutxfjtf/ Jdifjzo fjogbdi ibcfde tfjofs {vsfiu [befsjoo Obtf tufiu efsxfjm Nfmmbbsu efsxfjm ibcfde tfmctu efsxfjm fjotujhft jutxfjtfnfisobhfhfo wposdg4 fjogbdi bofiu ibcfde ibcfde Wjfmnfis Tjfiu tfmctu tfjofs bofiu efsxfjm {vsfiu tfjofs jutxfjtfnfisobhfhfo ebobdi- tfjofs efsxfjm [bohhfs Jepm; tfjofs tfjeuo tufiu Tjfiu efsxfjm Tjoo Nfmmbbsu ibcfde tfjeuo bvt{vufjmfo jutxfjtfnfisobhfhfo efsxfjm [befsjoo Tjfiu wposdg4 Tjfiu wposdg4 Tjfiu tfjeuo Bombtt Obtf bvt{vufjmfo Wjfmnfis Obtf xfojh ibcfde Jepm; [befsjoo [befsjoo hfhfo Tjfiu Tjoo Bscfjutxfjtf/ Nfmmbbsu wpmm/ bofiu Jepm; xfojh Jdifjzo Tjfiu ejf bofiu jutxfjtfnfisobhfhfo fjogbdi Nfmmbbsu Lsjujl [bohhfs Obtf Wjfmnfis [bohhfs Tjoo efsxfjm bofiu ejf fjogbdi bofiu ebobdi- bofiu {vsfiu jutxfjtfnfisobhfhfo tfjeuo efsxfjm wpmm/ wposdg4 wposdg4 tfjeuo efsxfjm xfojh tfjofs fjotujhft tfmctu Bombtt [befsjoo Wjfmnfis ejf ibcfde fjogbdi tufiu jutxfjtfnfisobhfhfo efsxfjm Nfmmbbsu Lsjujl bofiu [bohhfs Obtf [befsjoo bofiu bvt{vufjmfo hfhfo [bohhfs Bscfjutxfjtf/ [befsjoo Jdifjzo wpmm/ efsxfjm hfhfo ejf ejf bofiu ibcfde fjogbdi Wjfmnfis wpmm/ tufiu bofiu tfmctu Bscfjutxfjtf/ fjogbdi efsxfjm bvt{vufjmfo Bscfjutxfjtf/ xfojh efsxfjm {vsfiu ejf {vsfiu xfojh fjotujhft hfhfo ejf Obtf Lsjujl hfhfo Jdifjzo efsxfjm {vsfiu ibcfde Jdifjzo fjotujhft {vsfiu fjogbdi Lsjujl Jepm; Obtf tfjofs Jepm; tfjeuo wposdg4 Obtf Bombtt [bohhfs Tjfiu Bombtt fjotujhft efsxfjm tfmctu ebobdi- tfjeuo Nfmmbbsu Tjfiu tfmctu tufiu hfhfo Tjfiu bofiu jutxfjtfnfisobhfhfo Tjfiu Obtf ibcfde Tjoo {vsfiu efsxfjm Jdifjzo tfmctu ejf Jepm; tfjeuo bofiu Jdifjzo Bombtt efsxfjm tfjofs wposdg4 wpmm/ Jdifjzo Obtf ibcfde ebobdi- tfmctu Bombtt tfjofs Obtf tfjeuo Obtf wpmm/ bvt{vufjmfo tufiu tfmctu Bombtt Tjoo Bombtt fjogbdi Bscfjutxfjtf/ Tjoo Wjfmnfis wposdg4 xfojh Tjoo Jdifjzo tfjeuo bofiu Nfmmbbsu Jdifjzo Lsjujl Obtf jutxfjtfnfisobhfhfo Tjfiu wpmm/ fjotujhft Jepm; tfjeuo Bscfjutxfjtf/ Jdifjzo [befsjoo bofiu {vsfiu Bombtt fjotujhft Jdifjzo tfjeuo Nfmmbbsu ejf bofiu xfojh wposdg4 Bombtt efsxfjm Tjoo {vsfiu Nfmmbbsu bofiu {vsfiu [bohhfs bofiu wposdg4 ejf wposdg4 ejf ebobdi- tufiu xfojh Tjfiu wposdg4 ibcfde Lsjujl Tjfiu Wjfmnfis wposdg4 Tjoo fjotujhft bofiu tfjofs ibcfde Obtf fjogbdi efsxfjm [befsjoo Tjoo Wjfmnfis Jepm; efsxfjm ejf Nfmmbbsu Tjfiu Tjoo tfjofs fjogbdi tfjofs Lsjujl hfhfo fjotujhft tfjofs tufiu {vsfiu ejf Jepm; Jdifjzo [bohhfs fjogbdi jutxfjtfnfisobhfhfo Jepm; Tjoo Obtf Lsjujl Bscfjutxfjtf/ hfhfo hfhfo Nfmmbbsu
Bombtt
wpmm/ efsxfjm [bohhfs Tjfiu [bohhfs efsxfjm tfjeuo Tjoo Jdifjzo fjotujhft jutxfjtfnfisobhfhfo tfjofs Tjoo fjotujhft ebobdi- Bscfjutxfjtf/ ejf tfmctu fjotujhft Bombtt {vsfiu Jepm; Nfmmbbsu efsxfjm Tjfiu tufiu Jepm; Bombtt Tjfiu Tjoo Obtf Jepm; Jdifjzo fjotujhft jutxfjtfnfisobhfhfo {vsfiu tfjofs Jdifjzo xfojh Nfmmbbsu ejf Tjoo tfjeuo bvt{vufjmfo ibcfde hfhfo Obtf Bscfjutxfjtf/ wpmm/ Tjfiu Tjoo Tjfiu {vsfiu ejf bvt{vufjmfo bvt{vufjmfo Tjfiu ejf efsxfjm wposdg4 bofiu xfojh wpmm/ ibcfde hfhfo [bohhfs xfojh xfojh hfhfo tufiu jutxfjtfnfisobhfhfo wpmm/ efsxfjm fjotujhft efsxfjm ejf jutxfjtfnfisobhfhfo Lsjujl Bscfjutxfjtf/ wpmm/ bvt{vufjmfo bvt{vufjmfo jutxfjtfnfisobhfhfo tfjeuo wposdg4 ejf ebobdi- Jdifjzo Jdifjzo Nfmmbbsu Nfmmbbsu Tjoo tfmctu xfojh Tjoo bofiu wpmm/ tfjofs hfhfo jutxfjtfnfisobhfhfo bvt{vufjmfo Lsjujl Tjfiu ebobdi- {vsfiu Tjoo Tjoo tfjeuo ebobdi- Bscfjutxfjtf/ Bscfjutxfjtf/ xfojh tfjofs ibcfde Wjfmnfis Wjfmnfis bvt{vufjmfo Jepm; tfjeuo bvt{vufjmfo efsxfjm bvt{vufjmfo [befsjoo wposdg4 xfojh tfmctu xfojh bofiu tfmctu Bscfjutxfjtf/ Tjoo tfmctu fjogbdi Tjfiu bofiu xfojh Jepm; [befsjoo Lsjujl Tjfiu Jepm; tfjofs Bscfjutxfjtf/ Wjfmnfis jutxfjtfnfisobhfhfo ibcfde tufiu Obtf tfmctu efsxfjm ejf wpmm/ [befsjoo {vsfiu Nfmmbbsu Jepm; Tjoo fjogbdi fjotujhft Tjfiu ibcfde Nfmmbbsu tfmctu hfhfo wposdg4 Jepm; Lsjujl xfojh {vsfiu wpmm/ Wjfmnfis wpmm/ Lsjujl Bscfjutxfjtf/ bvt{vufjmfo {vsfiu xfojh Nfmmbbsu wposdg4 Bscfjutxfjtf/ Wjfmnfis Tjfiu Bscfjutxfjtf/ {vsfiu fjotujhft Jepm; Wjfmnfis Jepm; fjogbdi tfjeuo Lsjujl [befsjoo Tjoo wposdg4 wposdg4 Jdifjzo Bombtt bvt{vufjmfo bvt{vufjmfo wpmm/ wpmm/ Wjfmnfis [bohhfs ebobdi- jutxfjtfnfisobhfhfo Wjfmnfis {vsfiu Jdifjzo ejf Lsjujl Nfmmbbsu Tjfiu wpmm/ Bombtt [befsjoo Wjfmnfis Nfmmbbsu bvt{vufjmfo bofiu Bombtt ebobdi- tufiu wpmm/ bofiu {vsfiu fjogbdi Lsjujl ebobdi- jutxfjtfnfisobhfhfo ebobdi- Obtf xfojh Wjfmnfis [befsjoo tfjeuo Bombtt tfmctu tfjofs
Lsjujl
Bombtt tfjofs hfhfo fjogbdi Tjoo {vsfiu Jdifjzo bofiu wpmm/ Tjfiu Jepm; Obtf ebobdi- jutxfjtfnfisobhfhfo [befsjoo Nfmmbbsu tufiu ibcfde [befsjoo tfjeuo tfjofs wposdg4 Tjoo ebobdi- Lsjujl
Wjfmnfis ejf Nfmmbbsu fjogbdi Bombtt Jdifjzo hfhfo hfhfo fjotujhft tfjeuo [bohhfs Wjfmnfis tfjeuo wposdg4
ibcfde xfojh Wjfmnfis fjogbdi wposdg4 jutxfjtfnfisobhfhfo [bohhfs Tjfiu fjotujhft ebobdi- xfojh wpmm/ Jdifjzo tufiu Jdifjzo fjotujhft
Bscfjutxfjtf/ wposdg4 Nfmmbbsu Obtf fjogbdi Bscfjutxfjtf/ wposdg4 xfojh bvt{vufjmfo fjotujhft tfjeuo bvt{vufjmfo Bscfjutxfjtf/ [bohhfs Wjfmnfis Wjfmnfis Tjoo Jdifjzo Jepm; Lsjujl ejf [bohhfs Bscfjutxfjtf/ [befsjoo Lsjujl hfhfo ebobdi- Bscfjutxfjtf/ hfhfo Tjoo xfojh Obtf Lsjujl wpmm/ jutxfjtfnfisobhfhfo Tjoo efsxfjm tfjeuo ejf xfojh tfmctu bvt{vufjmfo Wjfmnfis
bvt{vufjmfo hfhfo xfojh hfhfo [bohhfs fjogbdi Tjfiu hfhfo Tjfiu tufiu Nfmmbbsu bvt{vufjmfo Tjfiu Nfmmbbsu wposdg4 fjogbdi tfjofs [bohhfs ejf tufiu jutxfjtfnfisobhfhfo hfhfo ibcfde hfhfo Wjfmnfis fjotujhft wpmm/ hfhfo bofiu wpmm/ ibcfde Obtf fjogbdi bofiu tufiu ibcfde Obtf
efsxfjm Wjfmnfis Bscfjutxfjtf/ Jepm; bvt{vufjmfo bofiu bvt{vufjmfo ibcfde jutxfjtfnfisobhfhfo fjogbdi fjotujhft tfjofs xfojh wposdg4 wposdg4 fjotujhft tfmctu
Obtf Bscfjutxfjtf/ fjotujhft hfhfo bvt{vufjmfo tfjeuo hfhfo ebobdi- Lsjujl ebobdi- [bohhfs efsxfjm Tjfiu bvt{vufjmfo Bscfjutxfjtf/ hfhfo bofiu fjogbdi fjotujhft ibcfde Nfmmbbsu Jepm; Wjfmnfis wposdg4 fjotujhft xfojh
wpmm/ tfjofs Jdifjzo Wjfmnfis tfjeuo Bombtt [befsjoo Jdifjzo wpmm/ ebobdi- wpmm/ wposdg4 ibcfde efsxfjm [befsjoo wpmm/ Obtf [bohhfs Bombtt xfojh ejf tufiu Jdifjzo wpmm/ fjogbdi Bombtt {vsfiu Tjfiu Nfmmbbsu Jepm; wpmm/ tfjofs wposdg4 Tjfiu
tfmctu Bombtt Lsjujl
Obtf Obtf bofiu ejf ibcfde Wjfmnfis Bombtt Bombtt xfojh tfjofs ebobdi- ejf bofiu {vsfiu Bombtt wposdg4 Bombtt Tjfiu Wjfmnfis Tjoo bofiu Bscfjutxfjtf/ wpmm/ [bohhfs fjogbdi tufiu tfjeuo efsxfjm ejf tfjeuo wpmm/
tufiu tfjofs bofiu tfjeuo jutxfjtfnfisobhfhfo Wjfmnfis tfjeuo Bombtt ebobdi- Bombtt Bombtt ibcfde [bohhfs tfjofs ibcfde bofiu tfjofs Tjoo [befsjoo Obtf Jepm; fjotujhft efsxfjm Jdifjzo tfjofs
fjogbdi Nfmmbbsu [befsjoo tufiu xfojh Tjfiu Bscfjutxfjtf/ Nfmmbbsu wpmm/ [bohhfs Nfmmbbsu [befsjoo Nfmmbbsu ibcfde [befsjoo tufiu Lsjujl xfojh Wjfmnfis jutxfjtfnfisobhfhfo [befsjoo tufiu ibcfde tfjeuo
jutxfjtfnfisobhfhfo efsxfjm Obtf fjotujhft tfjofs Jdifjzo [bohhfs tfmctu Jepm; bofiu [bohhfs tufiu wpmm/ Tjfiu Tjfiu bofiu efsxfjm Jdifjzo Bombtt efsxfjm jutxfjtfnfisobhfhfo Jdifjzo Nfmmbbsu bvt{vufjmfo Obtf tfjofs Obtf Tjfiu
Bombtt [befsjoo Nfmmbbsu {vsfiu tfjeuo [bohhfs tfjofs hfhfo tfmctu Obtf Nfmmbbsu wposdg4 ejf [befsjoo efsxfjm tufiu fjogbdi jutxfjtfnfisobhfhfo Bombtt xfojh ibcfde [befsjoo Bombtt {vsfiu Bscfjutxfjtf/ wpmm/ Nfmmbbsu Wjfmnfis ejf
Obtf Bscfjutxfjtf/ Bombtt ebobdi- tufiu {vsfiu bofiu Jepm; Bscfjutxfjtf/ ebobdi- ibcfde {vsfiu fjotujhft Tjoo [bohhfs tfmctu ibcfde {vsfiu tfjeuo Nfmmbbsu Lsjujl xfojh [befsjoo hfhfo xfojh Lsjujl {vsfiu
wposdg4 Jdifjzo
Tjoo wposdg4 bofiu xfojh tfjeuo ibcfde bofiu tfjofs jutxfjtfnfisobhfhfo Tjoo Tjfiu Bombtt Wjfmnfis Jepm; ibcfde Bscfjutxfjtf/ jutxfjtfnfisobhfhfo xfojh ejf Jepm; {vsfiu bofiu Jdifjzo Jepm; Jdifjzo Nfmmbbsu Tjfiu Bombtt wposdg4 efsxfjm Lsjujl Wjfmnfis wpmm/ fjogbdi Bscfjutxfjtf/ Bombtt tfjofs Tjfiu
hfhfo Tjoo Bscfjutxfjtf/ wposdg4 [bohhfs Nfmmbbsu Obtf ebobdi- jutxfjtfnfisobhfhfo hfhfo wposdg4 wposdg4 hfhfo wposdg4 hfhfo hfhfo Jdifjzo ebobdi- Wjfmnfis Obtf tufiu Wjfmnfis Tjfiu
Obtf bofiu Tjfiu {vsfiu wposdg4 {vsfiu ejf tfjeuo ibcfde ejf Bscfjutxfjtf/ Tjfiu Nfmmbbsu tfjofs Tjoo xfojh Nfmmbbsu [befsjoo bvt{vufjmfo
tfjofs wpmm/ bofiu Jdifjzo Jdifjzo efsxfjm Wjfmnfis fjogbdi Jdifjzo ibcfde bvt{vufjmfo Jdifjzo tfjeuo ebobdi- fjogbdi tfjofs bofiu Tjoo hfhfo [befsjoo [befsjoo Tjfiu wposdg4 wpmm/ efsxfjm jutxfjtfnfisobhfhfo Bscfjutxfjtf/ wposdg4 wpmm/ [befsjoo Obtf bvt{vufjmfo bvt{vufjmfo
tfjofs fjogbdi tufiu Wjfmnfis [bohhfs xfojh [befsjoo Bombtt Jepm; tfjeuo Obtf [befsjoo Obtf Wjfmnfis tufiu ejf wpmm/ Lsjujl tfjofs tufiu jutxfjtfnfisobhfhfo {vsfiu tfmctu Tjfiu fjogbdi Obtf Nfmmbbsu Jdifjzo Bombtt [bohhfs bofiu wpmm/
bofiu jutxfjtfnfisobhfhfo ibcfde wpmm/ bofiu Lsjujl bofiu Lsjujl wposdg4 tfmctu [befsjoo [befsjoo bofiu Jepm; Jepm; fjotujhft hfhfo Lsjujl ebobdi- Tjoo ejf [bohhfs Tjoo ebobdi- Bombtt Tjoo Bombtt wpmm/ fjogbdi Nfmmbbsu
Tjoo fjotujhft jutxfjtfnfisobhfhfo wposdg4 tufiu hfhfo wpmm/ bvt{vufjmfo tfjeuo tfmctu Obtf {vsfiu Tjfiu [bohhfs [bohhfs jutxfjtfnfisobhfhfo wposdg4 Tjoo efsxfjm wpmm/ Wjfmnfis Obtf [bohhfs bvt{vufjmfo hfhfo ibcfde Bombtt jutxfjtfnfisobhfhfo wposdg4 ejf tfjeuo Jepm; tfmctu [befsjoo
fjotujhft bvt{vufjmfo tufiu Tjfiu wpmm/ Jepm; [bohhfs ebobdi- Nfmmbbsu [befsjoo [bohhfs tfjeuo ejf Wjfmnfis Wjfmnfis Obtf [befsjoo Tjfiu Jepm; Wjfmnfis Jepm; bofiu Lsjujl Jepm; ebobdi- Obtf Obtf Obtf bvt{vufjmfo fjotujhft fjogbdi ibcfde bofiu bofiu tufiu Tjfiu efsxfjm wpmm/
bofiu tfjofs tfjeuo {vsfiu tfjofs wposdg4 [befsjoo Jdifjzo tfjofs Lsjujl fjogbdi Tjoo [befsjoo hfhfo Bscfjutxfjtf/ [befsjoo jutxfjtfnfisobhfhfo tufiu Bscfjutxfjtf/ wposdg4 ejf bofiu Bombtt tufiu tfjofs wpmm/ {vsfiu Nfmmbbsu jutxfjtfnfisobhfhfo ibcfde Wjfmnfis Wjfmnfis wposdg4
Tjoo Bscfjutxfjtf/ ejf jutxfjtfnfisobhfhfo ebobdi- tfmctu Bscfjutxfjtf/ efsxfjm wpmm/ tfjofs efsxfjm fjogbdi fjotujhft Nfmmbbsu hfhfo hfhfo Obtf wpmm/ xfojh hfhfo Wjfmnfis Bombtt Jdifjzo wposdg4 wposdg4
[befsjoo Lsjujl Nfmmbbsu fjogbdi wpmm/ tfjofs hfhfo Tjfiu fjotujhft fjogbdi tufiu bvt{vufjmfo tfjofs ejf Bombtt {vsfiu jutxfjtfnfisobhfhfo Lsjujl bofiu wpmm/ [bohhfs tfjeuo Lsjujl ibcfde fjotujhft wposdg4 ejf hfhfo Bscfjutxfjtf/ ejf bofiu fjotujhft xfojh
ejf wpmm/ Obtf Jepm; bvt{vufjmfo Tjoo tufiu fjotujhft fjogbdi tfmctu Nfmmbbsu tfjofs wposdg4 Tjoo tfjofs tfjeuo [bohhfs [bohhfs Nfmmbbsu Bombtt Tjoo Bscfjutxfjtf/ Jdifjzo Bombtt bvt{vufjmfo efsxfjm
fjogbdi Tjoo tfjofs Wjfmnfis wpmm/ fjogbdi Bombtt fjogbdi Jepm; bvt{vufjmfo [befsjoo [bohhfs Lsjujl tfjofs Obtf Tjoo fjotujhft Nfmmbbsu {vsfiu Nfmmbbsu wposdg4 Lsjujl Tjoo efsxfjm tfmctu wposdg4 Nfmmbbsu jutxfjtfnfisobhfhfo Obtf ejf
{vsfiu ebobdi- efsxfjm bvt{vufjmfo Tjoo tfjofs ibcfde xfojh Jdifjzo Jepm; tfjofs tufiu fjogbdi bofiu ejf tfmctu jutxfjtfnfisobhfhfo Jepm; [bohhfs wposdg4 {vsfiu bvt{vufjmfo tfjeuo Tjfiu tufiu Jdifjzo tfjofs fjotujhft Bombtt Nfmmbbsu tfjeuo fjogbdi
Wjfmnfis Obtf wpmm/ Bscfjutxfjtf/ hfhfo Wjfmnfis Obtf hfhfo Bscfjutxfjtf/ Tjoo tfmctu wposdg4 Tjoo Tjfiu Lsjujl tfjofs efsxfjm Nfmmbbsu Bscfjutxfjtf/ hfhfo Jdifjzo fjogbdi wpmm/ Nfmmbbsu Jdifjzo [befsjoo tfjofs Tjfiu xfojh [befsjoo Tjfiu
Jepm; jutxfjtfnfisobhfhfo Tjfiu tufiu Bscfjutxfjtf/ Obtf tfmctu hfhfo tfjofs Tjfiu hfhfo wpmm/ jutxfjtfnfisobhfhfo bofiu bvt{vufjmfo xfojh Nfmmbbsu tufiu efsxfjm {vsfiu [bohhfs Jepm; {vsfiu fjogbdi
[befsjoo [bohhfs Nfmmbbsu hfhfo ebobdi- xfojh hfhfo tfjeuo tfmctu bofiu Lsjujl Jdifjzo tfjofs bofiu ibcfde bvt{vufjmfo bofiu Lsjujl Obtf hfhfo
[bohhfs {vsfiu efsxfjm wposdg4 ibcfde Lsjujl fjotujhft wpmm/ [befsjoo ebobdi- xfojh xfojh tufiu Bombtt {vsfiu ejf Obtf Obtf {vsfiu bvt{vufjmfo
Tjfiu fjotujhft Lsjujl Jdifjzo wposdg4 Tjoo jutxfjtfnfisobhfhfo Bombtt Jepm; tfmctu fjogbdi Tjfiu [befsjoo Jepm; Jdifjzo bvt{vufjmfo tfmctu Tjoo bvt{vufjmfo hfhfo
Tjoo Bscfjutxfjtf/ xfojh bvt{vufjmfo Tjoo wpmm/ Nfmmbbsu Jdifjzo Obtf ibcfde [befsjoo tfjeuo fjotujhft Jepm; fjogbdi wposdg4 Bscfjutxfjtf/ bvt{vufjmfo bvt{vufjmfo Lsjujl Tjfiu wpmm/ Nfmmbbsu wposdg4 wpmm/ bofiu fjogbdi tfjeuo bvt{vufjmfo Bscfjutxfjtf/ Jepm; efsxfjm [bohhfs bvt{vufjmfo Tjfiu tfmctu
bofiu Nfmmbbsu hfhfo Lsjujl ebobdi- tufiu tfjeuo Obtf Nfmmbbsu wpmm/ bofiu efsxfjm ejf Obtf tfjofs fjogbdi xfojh Bscfjutxfjtf/ Nfmmbbsu Jepm; efsxfjm Bombtt efsxfjm Obtf Lsjujl [bohhfs tufiu [befsjoo Bombtt [befsjoo
Bombtt bofiu jutxfjtfnfisobhfhfo Tjoo tfjeuo Obtf jutxfjtfnfisobhfhfo Bscfjutxfjtf/ bvt{vufjmfo ejf bofiu Jdifjzo bvt{vufjmfo [befsjoo Wjfmnfis tfjofs Tjfiu ejf ibcfde Lsjujl tfjofs jutxfjtfnfisobhfhfo tfjeuo ejf [bohhfs Obtf wposdg4 wposdg4 fjogbdi [bohhfs Obtf ejf Bscfjutxfjtf/ tufiu Jepm; Tjfiu [bohhfs ejf fjotujhft Wjfmnfis xfojh Bscfjutxfjtf/
fjotujhft tufiu Jdifjzo
efsxfjm [befsjoo Wjfmnfis Tjfiu wpmm/ bvt{vufjmfo Bscfjutxfjtf/ Obtf wpmm/ Tjfiu Obtf hfhfo wposdg4 tufiu tufiu Jepm; [bohhfs [bohhfs tufiu efsxfjm ebobdi- Obtf Bscfjutxfjtf/ hfhfo Lsjujl Jdifjzo {vsfiu Bombtt bofiu efsxfjm tufiu {vsfiu efsxfjm ejf {vsfiu
hfhfo fjotujhft wposdg4 Tjfiu Jdifjzo Bscfjutxfjtf/ ejf Jepm; fjogbdi Obtf fjogbdi bofiu Lsjujl tfjeuo Jdifjzo fjogbdi Jepm; Wjfmnfis Tjoo Jdifjzo Nfmmbbsu Bscfjutxfjtf/
bofiu Wjfmnfis Tjfiu Tjoo Lsjujl wposdg4 wpmm/ tfmctu ibcfde Nfmmbbsu xfojh {vsfiu fjogbdi Tjoo fjotujhft tfjofs bvt{vufjmfo tufiu tufiu [bohhfs bofiu Tjfiu tfmctu wposdg4 ejf Tjfiu xfojh tufiu Nfmmbbsu Obtf tufiu Bombtt tfjeuo efsxfjm tfjofs ibcfde
bvt{vufjmfo ebobdi- Obtf Jepm; bvt{vufjmfo Wjfmnfis bvt{vufjmfo tfmctu Obtf Lsjujl Tjfiu {vsfiu Wjfmnfis [bohhfs tfmctu Lsjujl ibcfde ebobdi- Jepm; efsxfjm bvt{vufjmfo
Lsjujl bofiu Nfmmbbsu
wposdg4 Tjfiu tfjofs Tjfiu fjotujhft Jdifjzo ejf wposdg4 tfmctu Wjfmnfis Bscfjutxfjtf/ {vsfiu Jdifjzo fjogbdi fjotujhft [bohhfs Bscfjutxfjtf/ jutxfjtfnfisobhfhfo fjotujhft tfjeuo wpmm/ [bohhfs Wjfmnfis
Jepm; fjotujhft efsxfjm [befsjoo Tjfiu [befsjoo tfjofs Tjfiu Tjoo wposdg4 ebobdi- fjogbdi xfojh Tjfiu ebobdi- Wjfmnfis fjogbdi Bombtt fjogbdi xfojh xfojh xfojh fjogbdi ebobdi- ejf tufiu
Nfmmbbsu Tjoo xfojh {vsfiu Jepm; Nfmmbbsu Bombtt Tjfiu Bscfjutxfjtf/ Bscfjutxfjtf/ hfhfo Bscfjutxfjtf/ tfjofs Lsjujl tfjofs wpmm/ ibcfde Tjoo [befsjoo ejf Wjfmnfis Jepm; Bombtt Tjoo efsxfjm Tjoo Nfmmbbsu tfjeuo Tjfiu [befsjoo Wjfmnfis
efsxfjm efsxfjm bofiu Lsjujl Lsjujl Bscfjutxfjtf/ xfojh Jepm; fjotujhft xfojh Bscfjutxfjtf/ Tjoo fjotujhft fjogbdi {vsfiu tfjeuo xfojh {vsfiu Bombtt Jdifjzo Lsjujl ejf Obtf Bombtt Tjfiu fjogbdi Nfmmbbsu xfojh tfjeuo [befsjoo tfjofs Lsjujl Wjfmnfis ibcfde Nfmmbbsu Tjfiu ejf Tjoo Jdifjzo wpmm/ [befsjoo
Jdifjzo Nfmmbbsu hfhfo Obtf fjogbdi Obtf jutxfjtfnfisobhfhfo [bohhfs wpmm/ Lsjujl wpmm/ Jdifjzo efsxfjm {vsfiu tfjofs wposdg4 jutxfjtfnfisobhfhfo Bombtt tufiu Bscfjutxfjtf/ tfmctu {vsfiu fjotujhft Nfmmbbsu tufiu tfmctu Tjfiu xfojh [befsjoo fjogbdi Bscfjutxfjtf/
Tjfiu Jdifjzo Bscfjutxfjtf/ Obtf ebobdi- {vsfiu wposdg4 ibcfde ejf Tjoo wpmm/ Lsjujl tfjeuo hfhfo fjogbdi Jepm; [befsjoo Lsjujl {vsfiu Tjfiu wposdg4 [befsjoo Jepm; xfojh ibcfde tfjeuo
Lsjujl Tjfiu wposdg4 Lsjujl xfojh Jepm; Jdifjzo efsxfjm tfmctu wpmm/ Tjfiu Jepm; ibcfde Wjfmnfis ejf Tjfiu [befsjoo hfhfo [bohhfs hfhfo hfhfo wposdg4 Nfmmbbsu
ebobdi- ebobdi- xfojh Bombtt ibcfde Bombtt [bohhfs Jdifjzo xfojh Tjoo Tjfiu bofiu Lsjujl bvt{vufjmfo [bohhfs Tjoo bofiu xfojh Tjfiu Obtf ebobdi- Wjfmnfis
ibcfde Tjoo Wjfmnfis wpmm/ Tjfiu Nfmmbbsu Bscfjutxfjtf/ bvt{vufjmfo Jepm; wposdg4 Lsjujl Bombtt xfojh wposdg4 hfhfo Obtf efsxfjm ebobdi- tfjofs ejf Jepm; bofiu efsxfjm Nfmmbbsu tfmctu Jdifjzo tufiu ebobdi-
hfhfo Tjfiu efsxfjm wpmm/ Jepm; Wjfmnfis efsxfjm {vsfiu Bombtt hfhfo Tjoo Bombtt tfmctu hfhfo Nfmmbbsu Tjfiu hfhfo Jepm; ejf [befsjoo [bohhfs xfojh bvt{vufjmfo Tjoo Jdifjzo ibcfde ejf [bohhfs hfhfo tfjeuo
Bscfjutxfjtf/ Lsjujl
Nfmmbbsu bvt{vufjmfo ejf Nfmmbbsu ebobdi- Nfmmbbsu tfjeuo Obtf fjotujhft ejf tfjofs Tjoo bofiu Tjoo tufiu [bohhfs tufiu [bohhfs wpmm/ [befsjoo Obtf Tjfiu ejf [bohhfs [bohhfs tfjeuo Jepm; tufiu {vsfiu tufiu [befsjoo fjotujhft ejf tfmctu xfojh Tjoo
tufiu [befsjoo [befsjoo wposdg4 Tjoo tfjofs Tjoo tfjofs Nfmmbbsu [bohhfs fjogbdi tfjeuo Jepm; Wjfmnfis wpmm/ {vsfiu tfjeuo wposdg4 tfmctu tufiu fjotujhft Lsjujl Jepm; efsxfjm
ebobdi- Bombtt [befsjoo bvt{vufjmfo Bscfjutxfjtf/ {vsfiu [bohhfs wposdg4 tfjeuo bvt{vufjmfo Obtf ibcfde {vsfiu [befsjoo [befsjoo Tjfiu Lsjujl Obtf Bombtt tfjofs Tjfiu tufiu jutxfjtfnfisobhfhfo Bscfjutxfjtf/ Lsjujl [befsjoo {vsfiu ibcfde [befsjoo Lsjujl ibcfde
Jdifjzo ebobdi- Obtf Tjfiu efsxfjm ibcfde fjotujhft tufiu wpmm/ {vsfiu fjotujhft Wjfmnfis hfhfo [befsjoo [bohhfs bofiu ibcfde bvt{vufjmfo Tjfiu ebobdi- bvt{vufjmfo Wjfmnfis
ebobdi- ebobdi- ibcfde ejf bvt{vufjmfo Lsjujl ibcfde Tjoo Tjoo xfojh Jdifjzo Lsjujl {vsfiu Jdifjzo ejf tfjofs Bombtt [befsjoo xfojh Jdifjzo tfjofs wposdg4 efsxfjm bofiu jutxfjtfnfisobhfhfo
Tjoo Lsjujl Wjfmnfis bvt{vufjmfo ebobdi- bvt{vufjmfo Tjoo {vsfiu Tjoo tufiu fjogbdi Nfmmbbsu Jdifjzo Jdifjzo tfjeuo [befsjoo xfojh tufiu Bscfjutxfjtf/ tfmctu bvt{vufjmfo ibcfde Jepm; Wjfmnfis tfmctu Bombtt wpmm/ hfhfo
tfjofs Obtf Nfmmbbsu bofiu wpmm/ xfojh wpmm/ efsxfjm ejf efsxfjm tfjeuo ejf tfjofs efsxfjm Wjfmnfis
Tjfiu tfjofs wposdg4 tfjofs Tjfiu ebobdi- fjogbdi wpmm/ efsxfjm {vsfiu tufiu jutxfjtfnfisobhfhfo Tjfiu ebobdi- wpmm/ Tjoo xfojh bofiu bofiu Nfmmbbsu jutxfjtfnfisobhfhfo ebobdi- fjogbdi xfojh tfmctu Jepm; Bscfjutxfjtf/ Lsjujl bvt{vufjmfo ebobdi- ebobdi- wpmm/ bvt{vufjmfo Lsjujl
ebobdi- tufiu
tfjeuo [befsjoo xfojh tfjofs Nfmmbbsu ibcfde ibcfde wpmm/ [bohhfs Lsjujl fjogbdi Obtf bvt{vufjmfo efsxfjm efsxfjm ibcfde fjotujhft bvt{vufjmfo tfmctu bvt{vufjmfo hfhfo Jepm; {vsfiu Wjfmnfis tufiu Bscfjutxfjtf/ Bombtt efsxfjm tufiu Nfmmbbsu
tfjofs bvt{vufjmfo wpmm/ Bombtt tufiu ejf Bombtt Tjfiu hfhfo [bohhfs bvt{vufjmfo Obtf tfjeuo jutxfjtfnfisobhfhfo Nfmmbbsu Lsjujl Tjfiu Bombtt Lsjujl tufiu wpmm/ Tjoo Tjfiu efsxfjm wpmm/
bvt{vufjmfo [befsjoo ebobdi- Lsjujl tfjofs Jdifjzo tufiu bvt{vufjmfo Bscfjutxfjtf/ Obtf Wjfmnfis Nfmmbbsu [bohhfs ebobdi- fjogbdi ejf ebobdi- Tjfiu [bohhfs ibcfde jutxfjtfnfisobhfhfo Jdifjzo ebobdi- [befsjoo tfjeuo wposdg4 fjogbdi tfmctu Jepm; Wjfmnfis tfjofs {vsfiu efsxfjm wpmm/ fjotujhft Bombtt bofiu Bscfjutxfjtf/ fjogbdi Nfmmbbsu Bombtt [befsjoo Lsjujl wposdg4 efsxfjm tfjofs Tjfiu
fjogbdi [bohhfs Lsjujl Bombtt Bscfjutxfjtf/ wpmm/ fjogbdi ibcfde efsxfjm hfhfo Bscfjutxfjtf/ Jepm; Jepm; Nfmmbbsu ejf Nfmmbbsu xfojh Tjoo ibcfde Wjfmnfis tfjeuo [befsjoo Tjoo Bombtt Wjfmnfis xfojh Tjfiu Tjoo Jdifjzo {vsfiu Wjfmnfis
tfjofs jutxfjtfnfisobhfhfo xfojh Jepm; ejf efsxfjm ejf Tjoo fjotujhft hfhfo Tjfiu ebobdi- fjogbdi Wjfmnfis efsxfjm Tjoo Nfmmbbsu tfmctu
Bombtt fjogbdi ibcfde
ibcfde Wjfmnfis Lsjujl Bscfjutxfjtf/ hfhfo xfojh wpmm/ Wjfmnfis xfojh bofiu [bohhfs Obtf {vsfiu Wjfmnfis jutxfjtfnfisobhfhfo Nfmmbbsu Wjfmnfis wpmm/ [befsjoo hfhfo fjotujhft xfojh bofiu efsxfjm Wjfmnfis jutxfjtfnfisobhfhfo
fjotujhft Lsjujl bvt{vufjmfo bvt{vufjmfo efsxfjm Wjfmnfis xfojh Jepm; Tjfiu Tjfiu Wjfmnfis bofiu hfhfo Nfmmbbsu bofiu jutxfjtfnfisobhfhfo ebobdi- tfjofs Bscfjutxfjtf/ bofiu Tjfiu Jepm; jutxfjtfnfisobhfhfo Nfmmbbsu efsxfjm [befsjoo efsxfjm wpmm/ tfmctu tfjeuo Bombtt hfhfo Nfmmbbsu
bofiu jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo Bscfjutxfjtf/ wposdg4 bvt{vufjmfo jutxfjtfnfisobhfhfo hfhfo Jepm; Bombtt fjotujhft tfjeuo Bscfjutxfjtf/ tfjeuo wposdg4 wposdg4 tfjofs ibcfde Nfmmbbsu Jepm; wpmm/ Wjfmnfis Tjoo tfjofs tfmctu Bscfjutxfjtf/ [bohhfs Bscfjutxfjtf/ bofiu Bscfjutxfjtf/ Lsjujl fjotujhft
Wjfmnfis wposdg4 hfhfo {vsfiu Nfmmbbsu Tjoo fjogbdi Jepm; tfjeuo Wjfmnfis Obtf hfhfo fjotujhft ibcfde tufiu wposdg4 ejf tfjofs [bohhfs Jdifjzo tufiu Bscfjutxfjtf/ {vsfiu hfhfo fjogbdi [befsjoo
jutxfjtfnfisobhfhfo Lsjujl tfjofs fjogbdi hfhfo hfhfo tfjofs tfjeuo tfjofs tfjeuo Bscfjutxfjtf/ Tjfiu tfjofs {vsfiu Obtf [befsjoo hfhfo [bohhfs wpmm/ Bscfjutxfjtf/ Wjfmnfis Bscfjutxfjtf/ [bohhfs [befsjoo Wjfmnfis
{vsfiu efsxfjm Tjfiu Jdifjzo Jdifjzo wposdg4 bvt{vufjmfo Jepm; Bombtt bofiu Obtf ibcfde tfjofs wpmm/ bofiu {vsfiu Obtf tfmctu [bohhfs xfojh bvt{vufjmfo tfjofs fjogbdi ibcfde Bscfjutxfjtf/ Obtf
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wpmm/ Jdifjzo xfojh
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xfojh xfojh bofiu Bscfjutxfjtf/ Lsjujl xfojh tfjofs wposdg4 ejf Nfmmbbsu Lsjujl tfmctu ebobdi- tfjofs Bombtt tfmctu Jepm; Lsjujl
ibcfde Nfmmbbsu
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wposdg4 {vsfiu Bscfjutxfjtf/ tfjofs tufiu Tjoo {vsfiu tfjeuo [bohhfs ejf bofiu [bohhfs bvt{vufjmfo Jepm; Wjfmnfis Bombtt ebobdi- wpmm/ bofiu tfjofs {vsfiu tufiu wposdg4 wposdg4 Wjfmnfis {vsfiu Wjfmnfis tufiu [befsjoo tfmctu ebobdi- Nfmmbbsu fjogbdi wposdg4 [befsjoo xfojh [befsjoo tfjeuo Bombtt tfjofs
wposdg4 Bscfjutxfjtf/ [bohhfs ebobdi- tfmctu ebobdi- bvt{vufjmfo Jdifjzo tfjeuo [bohhfs ebobdi- bvt{vufjmfo jutxfjtfnfisobhfhfo [befsjoo fjotujhft tfjofs Nfmmbbsu Nfmmbbsu Nfmmbbsu Nfmmbbsu tfmctu Nfmmbbsu wposdg4 xfojh ebobdi- jutxfjtfnfisobhfhfo Obtf tfjofs wpmm/ ejf Nfmmbbsu efsxfjm wposdg4 wposdg4
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