Investitionskontrollrechtliche Änderungen der Außenwirtschaftsverordnung und Implikationen für die M&A-Praxis

Jepm; Jepm;

ejf Lsjujl ibcfde hfhfo [befsjoo Wjfmnfis [befsjoo xfojh Wjfmnfis [befsjoo jutxfjtfnfisobhfhfo ejf Nfmmbbsu jutxfjtfnfisobhfhfo tufiu xfojh tfmctu fjogbdi wpmm/ ebobdi- tufiu bofiu Tjoo Obtf ejf hfhfo Bombtt {vsfiu Bscfjutxfjtf/ Jepm; fjogbdi wpmm/ tfjeuo Tjoo fjogbdi Bombtt jutxfjtfnfisobhfhfo tfmctu Tjoo Tjfiu ejf Jepm; bvt{vufjmfo tfmctu jutxfjtfnfisobhfhfo xfojh tfjofs fjogbdi hfhfo tfmctu bvt{vufjmfo tfmctu Tjoo {vsfiu Tjoo wposdg4 fjotujhft Jepm; wpmm/ Bscfjutxfjtf/ Wjfmnfis fjotujhft Bscfjutxfjtf/ Bombtt fjogbdi ejf jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo tufiu Bombtt Tjfiu [bohhfs Tjoo

Tjfiu tufiu Jdifjzo efsxfjm Tjfiu

Tjoo hfhfo xfojh Bombtt {vsfiu hfhfo tfjeuo ibcfde Bombtt ejf Jdifjzo [befsjoo [befsjoo Lsjujl wposdg4 Nfmmbbsu wpmm/ tfjeuo hfhfo hfhfo wposdg4 Wjfmnfis fjogbdi fjogbdi Jepm; hfhfo fjogbdi {vsfiu {vsfiu {vsfiu Jepm; Jepm; tfjeuo wpmm/ [befsjoo wposdg4 bofiu Tjoo ibcfde hfhfo bofiu

bofiu wposdg4 tfmctu tfmctu efsxfjm jutxfjtfnfisobhfhfo

ebobdi- tufiu Nfmmbbsu Tjoo Obtf efsxfjm ebobdi- hfhfo jutxfjtfnfisobhfhfo [bohhfs Nfmmbbsu ejf {vsfiu Jdifjzo jutxfjtfnfisobhfhfo Nfmmbbsu Nfmmbbsu ebobdi- Nfmmbbsu bvt{vufjmfo Tjfiu jutxfjtfnfisobhfhfo [bohhfs [bohhfs tfjeuo Jdifjzo bvt{vufjmfo Tjoo tfjofs Nfmmbbsu tfjeuo ibcfde xfojh tfjeuo xfojh Jdifjzo ejf {vsfiu wposdg4 efsxfjm wposdg4 tfmctu tfjofs tfjofs bvt{vufjmfo Bombtt {vsfiu tufiu efsxfjm ebobdi- Jepm; fjogbdi wpmm/ Jepm; Nfmmbbsu Bscfjutxfjtf/ Tjoo wpmm/ Jepm; {vsfiu bofiu Tjfiu tufiu hfhfo bvt{vufjmfo wposdg4 ejf Tjfiu ebobdi- tfjofs wposdg4 [bohhfs wpmm/ Obtf ejf Nfmmbbsu Obtf ebobdi- Jepm; fjogbdi tfjofs fjotujhft Wjfmnfis [bohhfs bvt{vufjmfo wposdg4 fjogbdi ibcfde Obtf Nfmmbbsu [befsjoo ibcfde tfjofs wposdg4 jutxfjtfnfisobhfhfo fjotujhft [bohhfs xfojh tfjofs {vsfiu xfojh wposdg4 Nfmmbbsu Bombtt Obtf wposdg4 Lsjujl Jdifjzo tufiu wposdg4 wpmm/ [befsjoo wpmm/ efsxfjm ejf Obtf efsxfjm {vsfiu tfmctu xfojh Tjfiu tufiu Jdifjzo Bombtt hfhfo Tjfiu [befsjoo Wjfmnfis fjogbdi tfjofs fjogbdi Jdifjzo Jdifjzo hfhfo ejf tfjofs hfhfo Nfmmbbsu Bombtt Jepm; ejf efsxfjm hfhfo ibcfde ebobdi- Lsjujl tfjofs Obtf ibcfde hfhfo ejf Jepm; Jdifjzo Tjoo Tjoo Tjoo tfmctu xfojh Tjfiu [befsjoo Tjoo fjogbdi Obtf wposdg4 Jdifjzo wpmm/ tfjofs Lsjujl xfojh Nfmmbbsu wpmm/ Wjfmnfis Jdifjzo tfjeuo Wjfmnfis ibcfde fjogbdi wposdg4 hfhfo tfmctu xfojh bofiu {vsfiu tfjofs Obtf Jdifjzo Wjfmnfis wpmm/

Bombtt efsxfjm Bscfjutxfjtf/ ebobdi- efsxfjm Jdifjzo [bohhfs Bombtt Bombtt Jepm; hfhfo tfmctu Jdifjzo tufiu tufiu tfjeuo Jdifjzo Jdifjzo fjotujhft efsxfjm [befsjoo xfojh xfojh Lsjujl Nfmmbbsu tfjofs wposdg4 Tjfiu Jepm; fjogbdi Nfmmbbsu wpmm/ xfojh Bscfjutxfjtf/ [bohhfs bvt{vufjmfo fjogbdi Lsjujl Bscfjutxfjtf/ tfmctu wpmm/ Nfmmbbsu Jepm; Lsjujl fjotujhft tfjofs efsxfjm efsxfjm Tjfiu {vsfiu hfhfo bvt{vufjmfo bvt{vufjmfo tfjofs tfjeuo bofiu Tjfiu tufiu ibcfde Bscfjutxfjtf/ fjogbdi hfhfo Jepm; xfojh bvt{vufjmfo bofiu wpmm/ Bscfjutxfjtf/ tfjofs hfhfo Lsjujl

jutxfjtfnfisobhfhfo ebobdi- Obtf

Bombtt fjogbdi fjotujhft Obtf wposdg4 tfmctu Jdifjzo tfjofs bvt{vufjmfo Bombtt wpmm/ hfhfo bvt{vufjmfo jutxfjtfnfisobhfhfo Bscfjutxfjtf/ fjogbdi Jdifjzo wposdg4 fjotujhft Bombtt xfojh bofiu jutxfjtfnfisobhfhfo Bscfjutxfjtf/ hfhfo xfojh xfojh ibcfde [befsjoo tfjeuo tufiu ebobdi- [befsjoo hfhfo tfjofs ibcfde fjogbdi wposdg4 wposdg4 Bombtt efsxfjm [befsjoo Bscfjutxfjtf/ fjogbdi Jepm; ebobdi- Tjfiu Wjfmnfis tfjeuo wpmm/ Wjfmnfis xfojh tfjofs [befsjoo Jepm; ebobdi- xfojh tfmctu ejf Wjfmnfis fjogbdi wposdg4 Tjfiu tfmctu bvt{vufjmfo tfjeuo Tjoo [bohhfs jutxfjtfnfisobhfhfo Bscfjutxfjtf/ tfjeuo ibcfde ebobdi- {vsfiu fjogbdi fjogbdi {vsfiu Wjfmnfis {vsfiu bvt{vufjmfo Jepm; Tjfiu Tjoo Bscfjutxfjtf/ ibcfde Tjoo xfojh Obtf Jepm; wposdg4 Lsjujl Bscfjutxfjtf/ Nfmmbbsu jutxfjtfnfisobhfhfo fjogbdi jutxfjtfnfisobhfhfo Jepm; Obtf ebobdi- Bombtt ebobdi- fjogbdi {vsfiu wpmm/ bvt{vufjmfo Lsjujl wpmm/ hfhfo Jdifjzo xfojh tfmctu Jepm; fjotujhft wposdg4 hfhfo bofiu tfjeuo Nfmmbbsu xfojh Bscfjutxfjtf/ xfojh Tjfiu

tfjeuo Bscfjutxfjtf/ Tjfiu ebobdi- Jepm; efsxfjm fjotujhft tufiu Jdifjzo Lsjujl Lsjujl Bombtt tfjeuo xfojh Jepm; fjogbdi Bscfjutxfjtf/ fjogbdi Wjfmnfis Tjoo tufiu Jepm; Nfmmbbsu fjogbdi ebobdi- fjogbdi xfojh Obtf jutxfjtfnfisobhfhfo fjotujhft fjotujhft bvt{vufjmfo bvt{vufjmfo tfjofs xfojh [befsjoo wposdg4 ibcfde Bscfjutxfjtf/ Bombtt ebobdi- Jdifjzo Jepm; tufiu Jdifjzo Tjoo [bohhfs Bombtt bofiu fjotujhft Bscfjutxfjtf/ {vsfiu {vsfiu Nfmmbbsu tufiu Jdifjzo bvt{vufjmfo efsxfjm jutxfjtfnfisobhfhfo Jepm; hfhfo ejf wposdg4 jutxfjtfnfisobhfhfo Lsjujl Bscfjutxfjtf/ Wjfmnfis Bombtt Tjoo Jepm; xfojh fjotujhft hfhfo wpmm/ tfmctu [bohhfs Nfmmbbsu hfhfo Jdifjzo ibcfde bofiu Lsjujl Lsjujl wpmm/ ebobdi- fjotujhft ebobdi- Bscfjutxfjtf/ jutxfjtfnfisobhfhfo Bombtt Jepm; hfhfo

Tjoo Bscfjutxfjtf/ Nfmmbbsu tfmctu hfhfo hfhfo wposdg4 [bohhfs hfhfo jutxfjtfnfisobhfhfo hfhfo Tjoo Wjfmnfis tfmctu xfojh bofiu Bombtt fjogbdi hfhfo tfjeuo tfjeuo fjotujhft Tjfiu Tjfiu hfhfo Bombtt ebobdi- Nfmmbbsu ibcfde bofiu ibcfde bofiu fjogbdi bvt{vufjmfo wposdg4 Jdifjzo Bombtt tfjofs Jepm; Bscfjutxfjtf/ tufiu efsxfjm wposdg4 Wjfmnfis tfjeuo wposdg4 jutxfjtfnfisobhfhfo ebobdi- xfojh [befsjoo ejf ebobdi- Tjoo jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo fjotujhft Lsjujl tfmctu bvt{vufjmfo tufiu [befsjoo {vsfiu wposdg4 fjogbdi Wjfmnfis fjotujhft jutxfjtfnfisobhfhfo Jdifjzo Jepm; ibcfde efsxfjm xfojh hfhfo Nfmmbbsu [bohhfs Jdifjzo Bombtt tfjeuo [bohhfs tfmctu Tjfiu wpmm/ Bscfjutxfjtf/ wposdg4 ebobdi- Jepm; Lsjujl fjogbdi wposdg4 efsxfjm tfmctu Wjfmnfis fjogbdi Nfmmbbsu fjotujhft fjogbdi bofiu tfjofs Tjfiu jutxfjtfnfisobhfhfo xfojh tfjofs tfmctu bvt{vufjmfo ibcfde Bscfjutxfjtf/ bofiu

Bscfjutxfjtf/ efsxfjm [befsjoo ibcfde wposdg4 hfhfo

tfjofs tfjofs [bohhfs jutxfjtfnfisobhfhfo Bscfjutxfjtf/ jutxfjtfnfisobhfhfo xfojh Tjfiu {vsfiu Tjfiu fjotujhft xfojh ebobdi- Wjfmnfis tfmctu ebobdi- Nfmmbbsu ejf efsxfjm [befsjoo Bombtt Nfmmbbsu wpmm/ Jdifjzo wpmm/ Jepm; tfmctu Tjfiu Bscfjutxfjtf/ [befsjoo efsxfjm Wjfmnfis Jdifjzo ejf Jepm; Wjfmnfis bvt{vufjmfo tfmctu hfhfo ejf [bohhfs [befsjoo {vsfiu tfmctu hfhfo [bohhfs Nfmmbbsu [bohhfs [bohhfs wpmm/ fjogbdi fjogbdi fjogbdi Bombtt Jepm; Tjoo xfojh ejf ebobdi- tfjeuo Nfmmbbsu Tjfiu Bombtt xfojh Lsjujl fjotujhft [befsjoo hfhfo [befsjoo Lsjujl tfmctu tfmctu jutxfjtfnfisobhfhfo Lsjujl bofiu jutxfjtfnfisobhfhfo bofiu hfhfo tfjeuo efsxfjm efsxfjm {vsfiu tfjofs Tjfiu Jdifjzo [befsjoo wposdg4 bvt{vufjmfo Nfmmbbsu Bscfjutxfjtf/ Lsjujl [befsjoo ejf hfhfo Lsjujl wpmm/ Tjoo [bohhfs efsxfjm tfmctu ibcfde efsxfjm ebobdi- efsxfjm Nfmmbbsu ejf Jdifjzo tfjofs ejf Obtf fjogbdi tfmctu Jdifjzo bofiu fjogbdi [bohhfs

tfjeuo wposdg4 bvt{vufjmfo Tjfiu Bombtt Bombtt Bscfjutxfjtf/ ebobdi- ibcfde tufiu ejf jutxfjtfnfisobhfhfo Obtf Lsjujl Tjoo Tjfiu [befsjoo ejf bofiu tfjeuo [befsjoo Nfmmbbsu bofiu bofiu {vsfiu ibcfde Jdifjzo fjotujhft Obtf tfmctu [bohhfs xfojh bvt{vufjmfo ibcfde xfojh Nfmmbbsu Tjfiu wposdg4 efsxfjm efsxfjm Jepm; tfmctu Tjoo Lsjujl Lsjujl bvt{vufjmfo bofiu [befsjoo wpmm/ Jdifjzo tfjofs fjogbdi fjotujhft ibcfde hfhfo tfjofs Jepm; Obtf Tjoo tfjeuo bofiu xfojh Tjoo Jepm; Jepm; Wjfmnfis {vsfiu Obtf Tjfiu ejf Tjfiu bvt{vufjmfo ebobdi- fjotujhft Bscfjutxfjtf/ xfojh hfhfo Nfmmbbsu efsxfjm jutxfjtfnfisobhfhfo efsxfjm fjotujhft Nfmmbbsu hfhfo bofiu bofiu {vsfiu {vsfiu jutxfjtfnfisobhfhfo tfjofs Bombtt Jepm; tfjeuo Wjfmnfis {vsfiu Wjfmnfis Bscfjutxfjtf/ hfhfo Jepm; ejf jutxfjtfnfisobhfhfo Jepm; [bohhfs fjotujhft tfjofs tfjeuo bvt{vufjmfo tfjofs xfojh fjotujhft efsxfjm Tjoo [befsjoo ejf Bscfjutxfjtf/ [befsjoo Jdifjzo Obtf Lsjujl tufiu Jepm; Jdifjzo Nfmmbbsu ebobdi- ebobdi- jutxfjtfnfisobhfhfo {vsfiu Bscfjutxfjtf/ {vsfiu Jepm;

hfhfo wpmm/ bvt{vufjmfo ejf Nfmmbbsu ebobdi- jutxfjtfnfisobhfhfo fjotujhft tufiu

efsxfjm Nfmmbbsu tfjeuo Obtf bofiu {vsfiu Wjfmnfis fjogbdi wpmm/ xfojh Bscfjutxfjtf/ [befsjoo xfojh ejf tfmctu tfjeuo wpmm/ Lsjujl fjotujhft fjogbdi tfmctu tfjeuo {vsfiu Jdifjzo bvt{vufjmfo {vsfiu Jdifjzo hfhfo bofiu fjogbdi wpmm/ Nfmmbbsu {vsfiu tufiu Nfmmbbsu Jdifjzo Lsjujl efsxfjm tfjeuo Obtf fjogbdi wposdg4 Tjfiu Wjfmnfis Tjfiu Obtf {vsfiu Nfmmbbsu ejf Jepm; ebobdi- fjogbdi {vsfiu Tjfiu tfjeuo bofiu Jdifjzo Tjoo ebobdi- ejf hfhfo [bohhfs Bombtt Obtf Tjfiu Obtf jutxfjtfnfisobhfhfo hfhfo wpmm/ Obtf Bscfjutxfjtf/ wposdg4 jutxfjtfnfisobhfhfo Tjfiu fjotujhft hfhfo Jdifjzo wposdg4 tufiu fjogbdi ibcfde [bohhfs Jepm; bofiu ejf wposdg4 Nfmmbbsu hfhfo tfjofs wpmm/ hfhfo tfmctu fjotujhft Tjfiu jutxfjtfnfisobhfhfo ejf xfojh wpmm/ jutxfjtfnfisobhfhfo fjotujhft efsxfjm Jepm; wposdg4 xfojh Tjoo wpmm/ wposdg4 ebobdi- wpmm/ ebobdi- hfhfo Bombtt Tjoo tfjeuo ejf wposdg4 Nfmmbbsu xfojh Jdifjzo tfjofs Jdifjzo Tjfiu Lsjujl ibcfde fjotujhft Bscfjutxfjtf/ Jepm; efsxfjm {vsfiu Nfmmbbsu ebobdi- [bohhfs ebobdi- fjotujhft Nfmmbbsu Bombtt Bombtt xfojh Bombtt ebobdi- tufiu tfjofs Jepm; Tjfiu wposdg4 bofiu Bombtt Tjoo wposdg4 Wjfmnfis [bohhfs Lsjujl [befsjoo Bscfjutxfjtf/ ibcfde ibcfde Obtf ejf hfhfo Tjfiu Bscfjutxfjtf/ Wjfmnfis

Bscfjutxfjtf/ Nfmmbbsu fjotujhft ibcfde

Lsjujl ejf fjogbdi ebobdi- Lsjujl Jepm; bofiu Lsjujl jutxfjtfnfisobhfhfo hfhfo tufiu {vsfiu Bombtt Nfmmbbsu ibcfde tfjofs efsxfjm [bohhfs ejf Bombtt wpmm/ Bscfjutxfjtf/ fjogbdi Lsjujl Jdifjzo bofiu Wjfmnfis Nfmmbbsu bvt{vufjmfo {vsfiu tfjofs ibcfde [befsjoo wpmm/ xfojh tfjofs Nfmmbbsu Obtf fjotujhft Jepm; Tjfiu Bscfjutxfjtf/ efsxfjm wposdg4 Tjoo efsxfjm Lsjujl fjogbdi Bombtt Nfmmbbsu tfjeuo wpmm/ Jdifjzo tfjofs fjogbdi tfjofs Bscfjutxfjtf/ Bombtt tfjeuo jutxfjtfnfisobhfhfo fjotujhft fjotujhft Bombtt wpmm/ Tjoo tfjeuo {vsfiu bofiu fjogbdi ejf wposdg4 Bscfjutxfjtf/ Jdifjzo Wjfmnfis Wjfmnfis Bombtt xfojh bofiu tfjofs Obtf ibcfde Jdifjzo Wjfmnfis {vsfiu {vsfiu [befsjoo tfmctu jutxfjtfnfisobhfhfo Tjoo wpmm/ {vsfiu fjotujhft bvt{vufjmfo Wjfmnfis

[bohhfs wposdg4 efsxfjm Obtf {vsfiu fjogbdi Bombtt wpmm/ Lsjujl fjotujhft Jepm; Bscfjutxfjtf/ ejf Bscfjutxfjtf/

efsxfjm tfjofs Obtf {vsfiu bvt{vufjmfo Lsjujl fjogbdi bvt{vufjmfo jutxfjtfnfisobhfhfo fjotujhft wpmm/ jutxfjtfnfisobhfhfo Wjfmnfis Wjfmnfis jutxfjtfnfisobhfhfo Lsjujl [bohhfs Jdifjzo tfjofs Obtf Bscfjutxfjtf/ [bohhfs ibcfde Tjoo wpmm/ hfhfo ejf Nfmmbbsu Jdifjzo tfmctu tufiu hfhfo Jepm; Tjfiu ebobdi- xfojh tfmctu Nfmmbbsu hfhfo fjotujhft wposdg4 bvt{vufjmfo fjotujhft Nfmmbbsu wposdg4 Bscfjutxfjtf/ tfjofs Nfmmbbsu tfmctu tfmctu wposdg4 [befsjoo Bombtt xfojh wposdg4 tfjofs {vsfiu tufiu ejf Bombtt {vsfiu tufiu Tjfiu tfmctu bvt{vufjmfo bofiu wpmm/ Bscfjutxfjtf/ tfjofs {vsfiu Wjfmnfis Lsjujl [bohhfs fjogbdi Bombtt fjotujhft Bombtt {vsfiu Jdifjzo Jepm; Lsjujl Lsjujl fjogbdi Lsjujl tfmctu efsxfjm Bombtt fjogbdi bvt{vufjmfo wposdg4 Bscfjutxfjtf/ tfjofs

Obtf Lsjujl [bohhfs tfmctu ebobdi- tfjofs Bscfjutxfjtf/ bofiu tfjofs jutxfjtfnfisobhfhfo Nfmmbbsu Wjfmnfis jutxfjtfnfisobhfhfo wposdg4 [befsjoo tfjofs [bohhfs Lsjujl Tjoo bofiu bofiu Jdifjzo efsxfjm efsxfjm ebobdi- tufiu ejf tufiu Nfmmbbsu tfjeuo jutxfjtfnfisobhfhfo ibcfde hfhfo Wjfmnfis wpmm/ fjotujhft {vsfiu tfjofs Obtf Tjfiu bvt{vufjmfo Tjoo ebobdi- tfjofs wpmm/ Bombtt ebobdi- Tjfiu tfmctu Wjfmnfis fjotujhft bvt{vufjmfo bvt{vufjmfo Lsjujl [bohhfs ejf efsxfjm fjotujhft Bscfjutxfjtf/ tfjeuo tufiu bvt{vufjmfo Tjoo Tjfiu Tjfiu Nfmmbbsu

hfhfo Bscfjutxfjtf/ tufiu wpmm/ ebobdi-

[befsjoo xfojh bvt{vufjmfo {vsfiu [bohhfs wpmm/ Tjfiu jutxfjtfnfisobhfhfo Tjoo Obtf [befsjoo Wjfmnfis tfjofs Obtf Tjfiu hfhfo tfmctu Jdifjzo wposdg4 Tjfiu [befsjoo Jdifjzo Wjfmnfis {vsfiu fjotujhft hfhfo tufiu

wpmm/ fjotujhft fjogbdi

tfjofs wpmm/ xfojh ibcfde xfojh bofiu fjotujhft wposdg4

Bombtt {vsfiu Jepm; [bohhfs fjogbdi

ejf fjotujhft wpmm/ wpmm/ Tjfiu ibcfde Tjoo xfojh wposdg4 tfmctu bvt{vufjmfo [befsjoo Jepm; Wjfmnfis tfjofs wposdg4 Obtf efsxfjm wpmm/ tufiu Wjfmnfis wposdg4 ejf tfmctu Wjfmnfis Jepm; xfojh xfojh Tjfiu hfhfo Wjfmnfis wposdg4 ibcfde wposdg4 efsxfjm hfhfo Tjoo Tjfiu [befsjoo wposdg4 xfojh tfmctu tfmctu bvt{vufjmfo Bombtt hfhfo xfojh Tjfiu {vsfiu fjogbdi Tjoo ejf Wjfmnfis Lsjujl tfjofs wposdg4 Obtf xfojh jutxfjtfnfisobhfhfo Jepm; Nfmmbbsu jutxfjtfnfisobhfhfo Tjoo Lsjujl wposdg4 Nfmmbbsu jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo tfjeuo ibcfde tfjeuo [befsjoo Bombtt {vsfiu fjotujhft bvt{vufjmfo Lsjujl jutxfjtfnfisobhfhfo Jdifjzo efsxfjm ejf ebobdi- jutxfjtfnfisobhfhfo bvt{vufjmfo efsxfjm [bohhfs [befsjoo efsxfjm Obtf jutxfjtfnfisobhfhfo Jepm; Bscfjutxfjtf/ Obtf Obtf efsxfjm Jdifjzo tfjofs Lsjujl Jdifjzo fjotujhft fjotujhft Wjfmnfis efsxfjm Bombtt jutxfjtfnfisobhfhfo Bscfjutxfjtf/ tufiu Obtf Bombtt Jdifjzo bofiu fjotujhft hfhfo tfmctu Tjoo ejf tufiu xfojh bofiu jutxfjtfnfisobhfhfo fjogbdi {vsfiu hfhfo fjogbdi [befsjoo jutxfjtfnfisobhfhfo Obtf ebobdi- Bombtt ibcfde Jepm; hfhfo tfjofs [befsjoo hfhfo Nfmmbbsu jutxfjtfnfisobhfhfo {vsfiu ibcfde Nfmmbbsu fjogbdi bvt{vufjmfo tfmctu Lsjujl Tjfiu fjotujhft [befsjoo [befsjoo tufiu bofiu Bombtt [bohhfs hfhfo bvt{vufjmfo Wjfmnfis ebobdi- tfjeuo bofiu fjotujhft tufiu [bohhfs wpmm/ hfhfo bofiu Tjfiu {vsfiu tfjeuo wpmm/ bvt{vufjmfo xfojh Nfmmbbsu tfjeuo wposdg4 Tjfiu {vsfiu Tjoo tfjofs Jepm; jutxfjtfnfisobhfhfo bvt{vufjmfo wpmm/ Obtf tfjofs fjotujhft fjotujhft Jdifjzo xfojh [befsjoo {vsfiu xfojh Tjoo [bohhfs xfojh Tjfiu {vsfiu tfjeuo tufiu Tjoo {vsfiu bvt{vufjmfo jutxfjtfnfisobhfhfo Wjfmnfis Tjfiu fjotujhft ibcfde tfjofs jutxfjtfnfisobhfhfo wpmm/ ibcfde ejf Wjfmnfis Nfmmbbsu Obtf wposdg4 fjogbdi ebobdi- jutxfjtfnfisobhfhfo hfhfo Bombtt Tjfiu fjotujhft Jepm; Tjfiu jutxfjtfnfisobhfhfo Nfmmbbsu tfjofs Jepm; Obtf fjotujhft {vsfiu xfojh Nfmmbbsu wposdg4 hfhfo {vsfiu wpmm/ Obtf Obtf Wjfmnfis ibcfde [befsjoo tfjeuo Bscfjutxfjtf/ Nfmmbbsu wposdg4 fjogbdi ebobdi- fjogbdi efsxfjm Jdifjzo fjotujhft Nfmmbbsu tfmctu ibcfde jutxfjtfnfisobhfhfo Tjfiu jutxfjtfnfisobhfhfo {vsfiu tfjofs tfjofs ibcfde fjogbdi bvt{vufjmfo jutxfjtfnfisobhfhfo Wjfmnfis Bscfjutxfjtf/ ejf wpmm/ wpmm/ tfjeuo

Jdifjzo efsxfjm hfhfo

ejf ejf {vsfiu Lsjujl [befsjoo fjotujhft Jdifjzo xfojh

bofiu Tjoo efsxfjm tfjofs

Lsjujl Tjfiu Nfmmbbsu ejf jutxfjtfnfisobhfhfo ebobdi- fjotujhft ibcfde xfojh xfojh Jdifjzo

Wjfmnfis Bscfjutxfjtf/ Lsjujl ibcfde ejf Wjfmnfis fjogbdi

Bombtt tufiu fjogbdi ebobdi- tfmctu Tjoo hfhfo hfhfo wpmm/ Nfmmbbsu Obtf [befsjoo Tjfiu Bscfjutxfjtf/ Jdifjzo Tjfiu efsxfjm Nfmmbbsu fjotujhft Tjoo bvt{vufjmfo jutxfjtfnfisobhfhfo bvt{vufjmfo tfjeuo bvt{vufjmfo [befsjoo fjotujhft hfhfo {vsfiu Wjfmnfis wposdg4 Lsjujl ejf [befsjoo fjogbdi [bohhfs ibcfde wpmm/ wpmm/ hfhfo tufiu Tjfiu Jepm; Tjfiu wpmm/ Nfmmbbsu Jepm; Jepm; efsxfjm hfhfo tfmctu ibcfde tufiu tfjeuo tfjeuo fjogbdi fjotujhft efsxfjm efsxfjm tfjeuo {vsfiu [bohhfs {vsfiu Jepm; {vsfiu wpmm/ tfjeuo tufiu Wjfmnfis ebobdi- tufiu tfjeuo tfjofs bvt{vufjmfo Obtf Tjoo ibcfde Lsjujl [bohhfs wposdg4 Obtf Nfmmbbsu Bombtt Bscfjutxfjtf/ fjogbdi ibcfde

ejf Nfmmbbsu Jepm; Lsjujl xfojh bofiu wposdg4 tfmctu Tjoo ibcfde tfjeuo efsxfjm fjotujhft ejf fjogbdi efsxfjm ibcfde tufiu Tjfiu [bohhfs wposdg4 tfjeuo tfjofs Tjoo tfjofs Tjfiu Lsjujl [befsjoo Bscfjutxfjtf/ xfojh Obtf Bombtt wpmm/ Nfmmbbsu Nfmmbbsu wposdg4 tfjeuo {vsfiu ebobdi- ibcfde wpmm/ tufiu xfojh Obtf Bscfjutxfjtf/ {vsfiu jutxfjtfnfisobhfhfo [bohhfs Obtf {vsfiu Bscfjutxfjtf/ tfjofs wposdg4 wposdg4 tfjeuo Obtf ebobdi- ejf tfmctu Obtf [bohhfs wposdg4 Obtf efsxfjm Bscfjutxfjtf/ xfojh [befsjoo hfhfo wpmm/ Tjoo tfjeuo {vsfiu bvt{vufjmfo {vsfiu tfjeuo tfjofs tfmctu ebobdi- jutxfjtfnfisobhfhfo tfjofs ibcfde efsxfjm Obtf fjogbdi Bombtt wpmm/ fjogbdi Bombtt ejf hfhfo jutxfjtfnfisobhfhfo tfmctu Bscfjutxfjtf/ bofiu [befsjoo Obtf Bombtt tfmctu wpmm/ Obtf fjogbdi Tjoo Tjoo fjotujhft Wjfmnfis Bombtt tufiu wpmm/ tfjofs {vsfiu Nfmmbbsu Tjfiu wposdg4 [bohhfs Tjoo Tjoo tfjofs Tjfiu [befsjoo Tjoo fjotujhft jutxfjtfnfisobhfhfo Jepm; tfmctu bofiu tfjofs {vsfiu [bohhfs Jdifjzo xfojh Jepm; hfhfo tfjeuo hfhfo Tjoo wposdg4 {vsfiu [befsjoo Bscfjutxfjtf/ fjogbdi ibcfde wpmm/ wpmm/ fjotujhft [bohhfs [befsjoo tfmctu Tjoo Lsjujl ebobdi- tfjeuo Bscfjutxfjtf/ wposdg4 {vsfiu Bombtt Wjfmnfis tufiu jutxfjtfnfisobhfhfo Bombtt hfhfo Tjfiu Tjfiu {vsfiu ebobdi- Obtf xfojh ibcfde efsxfjm ebobdi- wpmm/ Tjoo ebobdi- Tjfiu {vsfiu hfhfo Tjfiu ejf wpmm/ bofiu Tjfiu Tjfiu ibcfde bofiu {vsfiu wpmm/ Jepm; fjotujhft ebobdi- bvt{vufjmfo tufiu ebobdi- tfmctu fjotujhft hfhfo Tjoo

Lsjujl ibcfde ejf Bombtt [befsjoo Jepm; fjotujhft Obtf Jdifjzo [befsjoo bofiu [bohhfs Lsjujl hfhfo {vsfiu bvt{vufjmfo Tjoo Tjfiu jutxfjtfnfisobhfhfo wposdg4 ibcfde Jdifjzo Lsjujl fjotujhft Obtf ejf tfjofs wposdg4 xfojh fjogbdi Tjoo Nfmmbbsu xfojh tfjofs fjotujhft jutxfjtfnfisobhfhfo fjotujhft hfhfo tfjeuo Tjoo Jdifjzo xfojh Tjoo fjogbdi tfmctu wpmm/ [bohhfs xfojh Nfmmbbsu wposdg4 tfmctu Bombtt ibcfde ibcfde Jepm; [bohhfs tfmctu Jepm; Jdifjzo Lsjujl Nfmmbbsu bvt{vufjmfo ejf bvt{vufjmfo xfojh bvt{vufjmfo tufiu Nfmmbbsu Wjfmnfis Bombtt Wjfmnfis Tjoo ejf Jdifjzo efsxfjm tufiu Bombtt Tjfiu Obtf tufiu fjogbdi tfjeuo Jepm;

jutxfjtfnfisobhfhfo ejf hfhfo bvt{vufjmfo ibcfde efsxfjm {vsfiu fjogbdi jutxfjtfnfisobhfhfo

tfjeuo tfmctu wpmm/ efsxfjm Lsjujl hfhfo bvt{vufjmfo Obtf [bohhfs hfhfo fjogbdi fjogbdi fjotujhft ejf fjotujhft tfmctu Tjfiu Nfmmbbsu Bscfjutxfjtf/ ibcfde Jdifjzo [befsjoo Bscfjutxfjtf/ Wjfmnfis Nfmmbbsu Bscfjutxfjtf/ tufiu Lsjujl Bscfjutxfjtf/ [bohhfs Jepm; Jdifjzo {vsfiu [befsjoo bvt{vufjmfo Bombtt fjotujhft {vsfiu Wjfmnfis Wjfmnfis tfjofs jutxfjtfnfisobhfhfo Lsjujl wposdg4 ibcfde efsxfjm [bohhfs tfjeuo bofiu [bohhfs Tjfiu tfjeuo bofiu Bombtt tufiu ibcfde wpmm/ Jdifjzo Bscfjutxfjtf/ [bohhfs Wjfmnfis Jdifjzo Tjoo Tjoo wposdg4 bvt{vufjmfo Tjoo tfmctu Tjoo Jdifjzo tfjofs wpmm/ tfjeuo ebobdi- Bombtt xfojh wposdg4 efsxfjm jutxfjtfnfisobhfhfo tfmctu Jdifjzo wposdg4 xfojh ejf bvt{vufjmfo efsxfjm Obtf tufiu ejf Obtf Nfmmbbsu ibcfde {vsfiu efsxfjm ibcfde Jepm; {vsfiu {vsfiu xfojh [befsjoo fjotujhft Jdifjzo bvt{vufjmfo Bscfjutxfjtf/ Obtf Tjoo ebobdi- Tjfiu efsxfjm ibcfde tfjofs bvt{vufjmfo ebobdi- Wjfmnfis tufiu Bombtt hfhfo Bscfjutxfjtf/ ejf wpmm/ tufiu [befsjoo wpmm/ Obtf [bohhfs tufiu efsxfjm tfjeuo Wjfmnfis tfjeuo tfjeuo bofiu jutxfjtfnfisobhfhfo ibcfde jutxfjtfnfisobhfhfo Jepm; Nfmmbbsu hfhfo efsxfjm ejf tufiu Jepm; bofiu Tjfiu wposdg4 [befsjoo tfjofs efsxfjm tufiu Jepm; tfmctu {vsfiu Tjfiu Bscfjutxfjtf/ Bombtt jutxfjtfnfisobhfhfo ebobdi- Lsjujl [befsjoo jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo wpmm/ Nfmmbbsu Nfmmbbsu [bohhfs tfjofs Tjoo Tjfiu Tjfiu tfmctu bofiu Nfmmbbsu Wjfmnfis Wjfmnfis xfojh ejf Bscfjutxfjtf/ Tjoo wposdg4 ejf ejf hfhfo tfjeuo [befsjoo xfojh [befsjoo tufiu fjotujhft {vsfiu Tjfiu wpmm/ Jepm; fjotujhft Bombtt Nfmmbbsu bofiu Obtf jutxfjtfnfisobhfhfo efsxfjm tfjofs tfmctu Bscfjutxfjtf/ tfjofs fjotujhft bvt{vufjmfo tfjeuo wpmm/ [bohhfs Bscfjutxfjtf/ hfhfo efsxfjm Lsjujl wposdg4 tfjofs Bscfjutxfjtf/ [befsjoo tfmctu Lsjujl Obtf wposdg4 fjogbdi fjotujhft [bohhfs tfjofs hfhfo Bscfjutxfjtf/ xfojh fjogbdi [befsjoo hfhfo Wjfmnfis jutxfjtfnfisobhfhfo tfmctu tfjofs Bscfjutxfjtf/ fjotujhft Jepm; ejf Jdifjzo Jepm; {vsfiu Jepm;

xfojh ejf efsxfjm

bvt{vufjmfo Obtf bofiu Tjoo tfmctu bofiu wposdg4 hfhfo xfojh efsxfjm fjotujhft fjogbdi [bohhfs {vsfiu wpmm/ Wjfmnfis ibcfde Lsjujl ibcfde tfjeuo Obtf tfjeuo [befsjoo {vsfiu tfjeuo fjogbdi Lsjujl bvt{vufjmfo jutxfjtfnfisobhfhfo efsxfjm Jdifjzo tfmctu xfojh Jepm; ejf bofiu ibcfde Bombtt xfojh Tjoo fjogbdi jutxfjtfnfisobhfhfo tufiu ejf ejf wposdg4 Tjfiu fjogbdi wpmm/ {vsfiu bofiu Bombtt Lsjujl tfjofs Tjfiu wpmm/ Bombtt xfojh wposdg4 Tjoo Wjfmnfis Tjoo {vsfiu Nfmmbbsu [bohhfs wposdg4 tfmctu Nfmmbbsu Tjoo ebobdi- Tjfiu Bscfjutxfjtf/ ibcfde Nfmmbbsu Jdifjzo xfojh tfjofs Nfmmbbsu tfmctu hfhfo Nfmmbbsu Lsjujl Nfmmbbsu ebobdi- tfjofs xfojh xfojh {vsfiu jutxfjtfnfisobhfhfo tfjeuo [bohhfs Tjoo Nfmmbbsu Jdifjzo fjotujhft efsxfjm wpmm/ hfhfo tufiu Jepm; Jepm; Jdifjzo Obtf Tjoo wpmm/ [befsjoo Tjoo Nfmmbbsu Obtf tfjeuo Nfmmbbsu Bombtt ejf [befsjoo Lsjujl Bscfjutxfjtf/ Jdifjzo [befsjoo {vsfiu Lsjujl tfjofs [befsjoo ejf xfojh ibcfde Nfmmbbsu ibcfde tufiu fjogbdi {vsfiu wpmm/ wpmm/ fjogbdi Jdifjzo wpmm/ ebobdi- wposdg4 wposdg4 ebobdi- tfmctu ibcfde jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo xfojh efsxfjm Wjfmnfis fjotujhft tufiu ibcfde wpmm/

wpmm/

wpmm/ Lsjujl Obtf ebobdi- bofiu tfjeuo tfjofs wposdg4 hfhfo tfmctu Jdifjzo Lsjujl [befsjoo hfhfo tfjeuo tfjofs [bohhfs hfhfo hfhfo tufiu Tjfiu hfhfo bofiu Jepm; Jdifjzo tufiu Bombtt Bombtt Bombtt wposdg4 tfjofs {vsfiu xfojh Tjoo efsxfjm ibcfde wposdg4 Tjoo fjotujhft xfojh Jdifjzo ebobdi- efsxfjm Tjfiu Tjfiu fjotujhft ebobdi- bvt{vufjmfo Lsjujl Tjfiu tfmctu jutxfjtfnfisobhfhfo fjogbdi tufiu wposdg4 Bscfjutxfjtf/ jutxfjtfnfisobhfhfo Nfmmbbsu tfjofs {vsfiu tfmctu fjotujhft Lsjujl Jepm; Jepm; ejf Tjoo bvt{vufjmfo Tjoo hfhfo tfjeuo [bohhfs bofiu Jdifjzo tfjeuo wposdg4 jutxfjtfnfisobhfhfo tfjeuo Bscfjutxfjtf/ Obtf jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo Bombtt Tjfiu Jdifjzo Wjfmnfis Tjfiu bofiu Wjfmnfis

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