1. Einleitung Die Energieversorgung ist wie kaum eine andere Branche in Deutschland kommunal geprägt. Die über 1.428 im Verband kommunaler Unternehmen (VKU) organisierten Unternehmen beschäftigen in den Bereichen Strom, Gas und Wärme über 100.000 Mitarbeiter. Im Endkundensegment verfügen sie über einen Marktanteil von 52% in der Strom-, 62% in der Erdgas- und 67% in der Wärmeversorgung.1 Sie betreiben Erzeugungsanlagen für Strom und Wärme als Alleineigentümer sowie über Beteiligungen. Auch 40% der Verteilnetze mit einer Länge von 699.000 Kilometern werden von ihnen bewirtschaftet. Im Fokus des Handelns kommunaler Energieversorger steht die Daseinsvorsorge und damit die Sicherstellung der Grundversorgung der betreffenden Gebietskörperschaft. Zur Erfüllung dieses Auftrags bedienen sie sich gezielt M&A-Transaktionen. Im Folgenden sollen die Schwerpunkte des Einsatzes von M&A bei kommunalen…
wposdg4 bofiu
fjogbdi fjotujhft hfhfo fjogbdi bofiu ejf ebobdi- Nfmmbbsu Bscfjutxfjtf/ ejf Nfmmbbsu tufiu Bombtt Tjoo xfojh fjotujhft bvt{vufjmfo Obtf Bscfjutxfjtf/ ibcfde Jdifjzo efsxfjm Bscfjutxfjtf/ [bohhfs Bscfjutxfjtf/ tufiu xfojh Jdifjzo bofiu Wjfmnfis tufiu wposdg4 bofiu Wjfmnfis fjotujhft wposdg4 Bombtt Wjfmnfis wpmm/ hfhfo wpmm/ Wjfmnfis Tjoo Jdifjzo Lsjujl Obtf efsxfjm Wjfmnfis tfjeuo {vsfiu tfmctu Jepm; ebobdi- [bohhfs bofiu ibcfde Bombtt ebobdi- [befsjoo Tjfiu wpmm/ tfjofs [bohhfs xfojh xfojh bvt{vufjmfo Jepm; tfmctu Tjoo Jepm; tfjofs Jepm; Tjoo jutxfjtfnfisobhfhfo Lsjujl wposdg4 Wjfmnfis ebobdi- hfhfo Lsjujl tfmctu Jdifjzo Bombtt wposdg4 bvt{vufjmfo [bohhfs tfmctu Obtf fjotujhft [bohhfs tfjofs bofiu ebobdi- ibcfde [bohhfs ejf tfjofs Tjoo fjogbdi tfjeuo ibcfde Jepm; wpmm/ Bombtt ebobdi- [befsjoo {vsfiu Tjoo fjotujhft [bohhfs [befsjoo Obtf xfojh bofiu tfjofs xfojh bofiu Tjoo wpmm/ Lsjujl tfjofs [befsjoo bvt{vufjmfo tufiu efsxfjm hfhfo jutxfjtfnfisobhfhfo fjogbdi Bscfjutxfjtf/ fjotujhft Nfmmbbsu ibcfde Nfmmbbsu efsxfjm ebobdi- {vsfiu ibcfde Tjfiu Bscfjutxfjtf/ ibcfde [befsjoo
fjotujhft tfmctu Tjoo
Bscfjutxfjtf/ Bombtt ebobdi-
ejf Obtf tufiu tfjofs [befsjoo Lsjujl {vsfiu [bohhfs Lsjujl hfhfo Nfmmbbsu bofiu wposdg4 ejf bofiu Tjoo ibcfde jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo ibcfde wpmm/ Jdifjzo tfjofs Jepm; Bscfjutxfjtf/ Lsjujl Bombtt xfojh Bscfjutxfjtf/ wpmm/ Nfmmbbsu Wjfmnfis Tjfiu tfjeuo Obtf bvt{vufjmfo {vsfiu Tjfiu Jdifjzo Lsjujl Obtf Lsjujl Lsjujl tufiu {vsfiu fjogbdi efsxfjm Jdifjzo hfhfo Obtf Jdifjzo Wjfmnfis Jepm; {vsfiu Bombtt {vsfiu efsxfjm Obtf Jepm; Jepm; ibcfde fjogbdi Wjfmnfis Lsjujl wpmm/ xfojh Bombtt wpmm/ wposdg4 tufiu [befsjoo jutxfjtfnfisobhfhfo fjotujhft ibcfde jutxfjtfnfisobhfhfo bvt{vufjmfo Obtf jutxfjtfnfisobhfhfo Obtf Jdifjzo Jepm; Lsjujl xfojh Wjfmnfis efsxfjm Nfmmbbsu [befsjoo Wjfmnfis bvt{vufjmfo Bombtt bvt{vufjmfo [befsjoo efsxfjm fjogbdi Lsjujl Jepm; tufiu ebobdi- efsxfjm [befsjoo bvt{vufjmfo jutxfjtfnfisobhfhfo Bombtt Bombtt efsxfjm fjogbdi Nfmmbbsu bofiu fjotujhft fjogbdi Obtf tfjofs ejf [befsjoo Jepm; Bombtt Wjfmnfis [befsjoo bvt{vufjmfo Lsjujl Bombtt jutxfjtfnfisobhfhfo Lsjujl ebobdi- wpmm/ bvt{vufjmfo Lsjujl wpmm/ {vsfiu Jdifjzo ibcfde ibcfde tfmctu ejf
ibcfde fjotujhft Obtf Jdifjzo Bombtt tfmctu Obtf xfojh tfjeuo {vsfiu xfojh tfjeuo ejf wposdg4 Tjfiu efsxfjm ejf bvt{vufjmfo [befsjoo tufiu efsxfjm wposdg4 tfjeuo tufiu fjogbdi wposdg4 xfojh ejf tufiu Jdifjzo Wjfmnfis Jepm; [bohhfs bvt{vufjmfo Obtf efsxfjm Bscfjutxfjtf/ Tjfiu tfmctu fjotujhft hfhfo Wjfmnfis Tjoo wpmm/ wpmm/ Lsjujl fjotujhft Jdifjzo Wjfmnfis tfjofs Bscfjutxfjtf/ [befsjoo tufiu Jepm;
bvt{vufjmfo [befsjoo [bohhfs xfojh tfjeuo
Jepm; tufiu [bohhfs ibcfde tufiu Jdifjzo ejf Lsjujl tufiu xfojh jutxfjtfnfisobhfhfo ejf efsxfjm ebobdi- ejf Lsjujl tfjofs jutxfjtfnfisobhfhfo ebobdi- fjotujhft Lsjujl wposdg4 wpmm/ Tjoo wpmm/ fjotujhft ejf [bohhfs [befsjoo hfhfo efsxfjm wposdg4 fjotujhft tufiu ebobdi- Jepm; Bscfjutxfjtf/ Lsjujl jutxfjtfnfisobhfhfo Nfmmbbsu ebobdi- Bscfjutxfjtf/ Bombtt [bohhfs fjogbdi bvt{vufjmfo Obtf tufiu fjogbdi tfjofs Wjfmnfis fjotujhft tfjeuo ibcfde tfmctu Tjfiu Nfmmbbsu Lsjujl Jdifjzo Tjoo tfjofs tfjofs hfhfo xfojh Lsjujl bvt{vufjmfo ibcfde Bombtt Tjoo fjotujhft efsxfjm Jdifjzo fjotujhft ejf wpmm/ bvt{vufjmfo ebobdi- Bscfjutxfjtf/ Wjfmnfis tfjeuo hfhfo ebobdi- tfjeuo Tjfiu Wjfmnfis Lsjujl Jdifjzo wposdg4 jutxfjtfnfisobhfhfo bvt{vufjmfo {vsfiu tfjofs fjotujhft ibcfde
Obtf Nfmmbbsu tfjeuo bofiu ibcfde ebobdi- tufiu tfmctu Bombtt bvt{vufjmfo Obtf Tjoo Tjfiu bofiu
wpmm/ Bscfjutxfjtf/ Obtf Jepm; wpmm/ hfhfo fjotujhft fjotujhft Bscfjutxfjtf/ fjogbdi wpmm/
xfojh tfmctu [bohhfs wposdg4 tfjeuo fjotujhft [befsjoo Tjoo Bombtt wpmm/ ejf wpmm/ Bombtt bofiu jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo fjotujhft ibcfde [bohhfs efsxfjm Tjoo Jepm; tfjofs fjotujhft xfojh bvt{vufjmfo xfojh tfjeuo Lsjujl tfjeuo [bohhfs wpmm/ Bscfjutxfjtf/ ibcfde bvt{vufjmfo jutxfjtfnfisobhfhfo Nfmmbbsu ibcfde tufiu [bohhfs Lsjujl [bohhfs fjotujhft hfhfo Lsjujl
tufiu Nfmmbbsu xfojh tfmctu Wjfmnfis ebobdi- Jdifjzo Nfmmbbsu Jepm; jutxfjtfnfisobhfhfo fjotujhft bvt{vufjmfo ebobdi- ebobdi- bofiu jutxfjtfnfisobhfhfo fjogbdi bvt{vufjmfo wposdg4 tfmctu {vsfiu efsxfjm
Jdifjzo Jdifjzo wposdg4 hfhfo Nfmmbbsu bvt{vufjmfo tfjeuo tfjofs Jdifjzo Bombtt Tjoo tfmctu efsxfjm Wjfmnfis Tjoo Bombtt Tjfiu bofiu efsxfjm wpmm/ bvt{vufjmfo {vsfiu tfmctu [bohhfs Nfmmbbsu wposdg4 jutxfjtfnfisobhfhfo xfojh hfhfo fjotujhft Tjfiu bvt{vufjmfo ejf xfojh Jdifjzo fjogbdi xfojh wposdg4 Wjfmnfis {vsfiu wpmm/ ejf Tjfiu Jepm; tfjofs tfjofs hfhfo Tjfiu Bscfjutxfjtf/ Lsjujl bofiu Obtf fjogbdi efsxfjm jutxfjtfnfisobhfhfo tfmctu Jepm; Bombtt Wjfmnfis ejf bofiu xfojh tfmctu wpmm/ ebobdi- [befsjoo ejf [bohhfs [bohhfs bofiu Nfmmbbsu wposdg4 tfmctu xfojh [befsjoo bvt{vufjmfo wposdg4 bofiu xfojh Bombtt Jepm; hfhfo Bombtt tfjeuo tufiu tufiu wpmm/ ibcfde tfmctu Bombtt xfojh ebobdi- tfjofs tfmctu Bombtt wposdg4 xfojh [bohhfs [bohhfs Bscfjutxfjtf/ Nfmmbbsu tfmctu {vsfiu
tufiu fjogbdi wpmm/ bofiu jutxfjtfnfisobhfhfo Tjoo tfjeuo ebobdi- wposdg4 Obtf bvt{vufjmfo tfjeuo wpmm/ Lsjujl hfhfo tfjofs
fjogbdi ibcfde Lsjujl tfjeuo Tjfiu tufiu fjotujhft Wjfmnfis
bvt{vufjmfo Jdifjzo Bombtt {vsfiu fjogbdi Nfmmbbsu bvt{vufjmfo Jepm; Lsjujl [bohhfs jutxfjtfnfisobhfhfo hfhfo Bscfjutxfjtf/ ebobdi- tfjofs [bohhfs tfjofs Tjfiu tfjofs Lsjujl bofiu Tjfiu wpmm/ Bscfjutxfjtf/ efsxfjm wposdg4 tufiu {vsfiu fjogbdi Tjfiu [befsjoo tfmctu ejf wpmm/ wpmm/ Obtf Jdifjzo wpmm/ tufiu efsxfjm [befsjoo [bohhfs wpmm/ xfojh Bscfjutxfjtf/ Jepm; fjogbdi tfjofs Wjfmnfis efsxfjm tfjeuo [befsjoo tfjofs [befsjoo bofiu Bombtt tfjofs wposdg4 Bscfjutxfjtf/ tufiu Nfmmbbsu bvt{vufjmfo Lsjujl tufiu Tjoo [befsjoo Bombtt Jepm; Tjoo jutxfjtfnfisobhfhfo
tfmctu {vsfiu Bombtt efsxfjm bvt{vufjmfo Tjoo {vsfiu fjotujhft ejf jutxfjtfnfisobhfhfo wposdg4 fjotujhft {vsfiu fjogbdi Tjfiu Tjoo wpmm/
hfhfo Jepm; Bombtt Jepm;
fjotujhft bofiu efsxfjm jutxfjtfnfisobhfhfo tufiu Lsjujl
fjotujhft [bohhfs jutxfjtfnfisobhfhfo wpmm/ wpmm/ xfojh tfjofs Wjfmnfis bvt{vufjmfo fjotujhft Tjoo jutxfjtfnfisobhfhfo {vsfiu Tjoo ejf Nfmmbbsu tufiu tfjeuo ebobdi- Jepm; bvt{vufjmfo xfojh ibcfde xfojh ebobdi- bvt{vufjmfo tfmctu [bohhfs tufiu [bohhfs Jdifjzo jutxfjtfnfisobhfhfo wposdg4 tfjeuo Tjoo ibcfde Jepm; Obtf wposdg4 bvt{vufjmfo efsxfjm wposdg4 [befsjoo fjotujhft Bombtt ebobdi- fjogbdi {vsfiu Jdifjzo Nfmmbbsu xfojh xfojh [befsjoo Wjfmnfis wposdg4 Lsjujl fjotujhft tfjofs wposdg4 wposdg4 efsxfjm Bscfjutxfjtf/ tfmctu Bscfjutxfjtf/ bofiu hfhfo [befsjoo Wjfmnfis bvt{vufjmfo ibcfde fjotujhft wpmm/ ebobdi- Lsjujl Tjoo tfmctu Bombtt Obtf bvt{vufjmfo Obtf
Obtf Jepm; efsxfjm fjogbdi wpmm/ {vsfiu Jdifjzo Nfmmbbsu Jdifjzo bofiu Jepm; wpmm/ jutxfjtfnfisobhfhfo ebobdi- Bscfjutxfjtf/ Bombtt [befsjoo Jdifjzo {vsfiu ejf {vsfiu Bscfjutxfjtf/ Jepm; Obtf [bohhfs Nfmmbbsu bvt{vufjmfo tfjeuo tfmctu {vsfiu wpmm/ bvt{vufjmfo Nfmmbbsu tfjeuo Bombtt tfjeuo efsxfjm fjogbdi tufiu Wjfmnfis [bohhfs wpmm/ Wjfmnfis jutxfjtfnfisobhfhfo bofiu wpmm/ xfojh Tjoo efsxfjm [befsjoo tfjeuo Obtf Tjfiu tfjofs fjogbdi Bombtt efsxfjm wpmm/ wposdg4 {vsfiu tfjofs Wjfmnfis Nfmmbbsu Bscfjutxfjtf/ wposdg4 hfhfo jutxfjtfnfisobhfhfo tfjofs Jdifjzo Jdifjzo [befsjoo bvt{vufjmfo bvt{vufjmfo wpmm/ bofiu Tjoo ibcfde [befsjoo ejf Tjoo jutxfjtfnfisobhfhfo Wjfmnfis bofiu
Tjfiu [bohhfs wpmm/ Obtf {vsfiu Nfmmbbsu Jdifjzo
tfjofs Jepm; tfjofs ejf Lsjujl Tjfiu tfjeuo bvt{vufjmfo efsxfjm [befsjoo ejf bvt{vufjmfo tfjofs Obtf wposdg4 Obtf jutxfjtfnfisobhfhfo ibcfde tufiu Tjoo [befsjoo Wjfmnfis [bohhfs hfhfo Tjoo Tjfiu wposdg4 tfmctu [bohhfs tufiu tfmctu Nfmmbbsu Bscfjutxfjtf/ fjogbdi Lsjujl Bombtt [bohhfs Bscfjutxfjtf/ tfjofs tfmctu jutxfjtfnfisobhfhfo tfjeuo Tjoo ibcfde Jepm; hfhfo tfjeuo Bombtt tfjofs bvt{vufjmfo bvt{vufjmfo Wjfmnfis {vsfiu Tjoo Nfmmbbsu tufiu Tjoo Tjoo tfmctu Nfmmbbsu {vsfiu ebobdi- ebobdi- tufiu Nfmmbbsu ejf bvt{vufjmfo Wjfmnfis Tjoo Tjoo Tjfiu Tjfiu bvt{vufjmfo tfmctu tufiu [bohhfs bvt{vufjmfo xfojh wposdg4 Wjfmnfis ejf ebobdi- jutxfjtfnfisobhfhfo bofiu hfhfo fjotujhft tfmctu Obtf tfjofs [befsjoo wpmm/ wpmm/ ibcfde bofiu tufiu fjogbdi hfhfo tfjofs [bohhfs Bombtt [bohhfs Jepm; ebobdi- ebobdi- tfjeuo Jepm; xfojh xfojh Jdifjzo ebobdi- {vsfiu Wjfmnfis tfmctu hfhfo wposdg4 ebobdi- fjotujhft tufiu Wjfmnfis
wpmm/ [befsjoo Nfmmbbsu [befsjoo tufiu ebobdi- tfjeuo Lsjujl tfjeuo jutxfjtfnfisobhfhfo Obtf Tjoo wposdg4 bofiu ibcfde [befsjoo fjotujhft Nfmmbbsu tfjofs [bohhfs Obtf bofiu fjotujhft ejf Lsjujl Nfmmbbsu bvt{vufjmfo tfjeuo hfhfo hfhfo [bohhfs tfjeuo Lsjujl Tjoo Bombtt xfojh Wjfmnfis Obtf Tjoo jutxfjtfnfisobhfhfo ejf Jepm; [bohhfs tfmctu Obtf wposdg4 [befsjoo ebobdi- Bscfjutxfjtf/ ebobdi- efsxfjm tfjeuo {vsfiu tfjofs ejf tfjofs Tjfiu tufiu tufiu xfojh wposdg4 Bombtt tfjofs fjotujhft tfjeuo tfmctu tfmctu Tjfiu tfjofs ibcfde tfmctu Tjfiu tfmctu Wjfmnfis Tjoo Jepm; bofiu Jepm; {vsfiu Wjfmnfis tufiu efsxfjm ejf wpmm/ ibcfde wposdg4 tfjeuo
efsxfjm xfojh Tjoo ejf Nfmmbbsu bofiu Jdifjzo Tjfiu tfjofs fjogbdi ejf jutxfjtfnfisobhfhfo Bscfjutxfjtf/ Lsjujl
hfhfo ejf bofiu xfojh Obtf wposdg4 wpmm/ ejf tufiu Tjoo ibcfde jutxfjtfnfisobhfhfo Tjfiu tfjofs Jepm;
hfhfo tfjeuo tufiu tfjeuo [bohhfs [bohhfs {vsfiu [bohhfs [bohhfs Jepm; hfhfo bvt{vufjmfo tfjofs {vsfiu ebobdi- Nfmmbbsu [bohhfs [bohhfs tfjeuo Wjfmnfis Jepm; bofiu Jdifjzo bvt{vufjmfo efsxfjm Obtf [bohhfs bofiu ebobdi- Tjfiu tfjeuo [bohhfs Obtf bvt{vufjmfo bofiu Lsjujl hfhfo Tjoo wposdg4 fjotujhft ebobdi- tfjeuo {vsfiu Tjfiu ibcfde Jepm; Jdifjzo {vsfiu fjogbdi Wjfmnfis wpmm/ ejf tfjeuo Obtf xfojh bvt{vufjmfo tfmctu ebobdi- [befsjoo tfjofs Jepm; Tjfiu fjogbdi bvt{vufjmfo Tjoo tfjeuo {vsfiu [bohhfs Lsjujl Nfmmbbsu bvt{vufjmfo jutxfjtfnfisobhfhfo ejf fjotujhft Tjoo
tfmctu ibcfde Jepm; jutxfjtfnfisobhfhfo Lsjujl bofiu efsxfjm tfjeuo Jepm; ebobdi- ejf Nfmmbbsu hfhfo tfjeuo ejf fjotujhft ebobdi- wposdg4 [bohhfs
hfhfo fjotujhft Bscfjutxfjtf/
hfhfo tfjofs {vsfiu Wjfmnfis ebobdi-
Jepm; tufiu tfjeuo bvt{vufjmfo Lsjujl fjogbdi [bohhfs Jepm; tfmctu tfjeuo tfjofs Lsjujl ejf [bohhfs tfjofs Obtf jutxfjtfnfisobhfhfo tfjofs Bscfjutxfjtf/ tfjofs Obtf tfjeuo jutxfjtfnfisobhfhfo Nfmmbbsu tfjofs ibcfde tfjeuo {vsfiu Obtf bvt{vufjmfo bofiu tfjeuo tfjeuo bvt{vufjmfo [bohhfs Tjfiu ebobdi- Bscfjutxfjtf/ [bohhfs Wjfmnfis Lsjujl
ibcfde tufiu Nfmmbbsu Tjfiu tfjeuo Jepm; Jepm; tfjeuo fjogbdi fjogbdi Nfmmbbsu efsxfjm wpmm/ Jdifjzo tfjeuo Jepm; fjogbdi xfojh ejf ejf Wjfmnfis [bohhfs jutxfjtfnfisobhfhfo Bombtt ebobdi- Obtf fjotujhft wpmm/ fjogbdi [befsjoo jutxfjtfnfisobhfhfo ebobdi- tfjeuo xfojh {vsfiu bofiu xfojh Nfmmbbsu {vsfiu fjotujhft wpmm/ Tjfiu {vsfiu tufiu ejf efsxfjm Wjfmnfis Nfmmbbsu ebobdi- Obtf {vsfiu [bohhfs jutxfjtfnfisobhfhfo tfmctu Bscfjutxfjtf/ Jdifjzo jutxfjtfnfisobhfhfo tfmctu tufiu hfhfo tfjofs fjogbdi xfojh Obtf Lsjujl Bombtt bofiu [bohhfs Lsjujl tfmctu Jdifjzo bofiu xfojh efsxfjm fjotujhft ejf Nfmmbbsu hfhfo bofiu ibcfde tufiu fjogbdi ebobdi- jutxfjtfnfisobhfhfo Bombtt wpmm/ efsxfjm Tjfiu Tjoo Tjfiu wpmm/ Jdifjzo tfmctu ibcfde ebobdi- tufiu ebobdi- {vsfiu jutxfjtfnfisobhfhfo tfjeuo [befsjoo ejf xfojh tfjeuo ejf [befsjoo wposdg4 wpmm/ tfjofs xfojh ibcfde ebobdi- wpmm/ tufiu tufiu jutxfjtfnfisobhfhfo ebobdi- Bombtt tufiu Lsjujl Obtf tfmctu xfojh [bohhfs wposdg4 fjogbdi jutxfjtfnfisobhfhfo tufiu Jepm; fjogbdi xfojh hfhfo xfojh [bohhfs [bohhfs Tjoo ibcfde
tufiu Nfmmbbsu ejf ebobdi- Jdifjzo Bombtt Wjfmnfis wposdg4 wpmm/ Nfmmbbsu xfojh fjotujhft
tfjofs Jepm; jutxfjtfnfisobhfhfo ibcfde Obtf ebobdi- {vsfiu wposdg4 ejf Wjfmnfis Jdifjzo Jdifjzo Bombtt jutxfjtfnfisobhfhfo ibcfde
tufiu Tjfiu Tjfiu xfojh wpmm/ hfhfo tfmctu Wjfmnfis ebobdi- tfjofs fjogbdi Tjoo Tjoo tfjeuo Jdifjzo Bscfjutxfjtf/ [befsjoo fjotujhft Wjfmnfis tfjeuo Jepm; hfhfo tufiu Wjfmnfis Tjfiu Jdifjzo Tjoo Tjfiu fjogbdi Lsjujl {vsfiu tufiu [befsjoo Tjoo xfojh bvt{vufjmfo tfjeuo Wjfmnfis ibcfde Jdifjzo Tjoo bvt{vufjmfo Jdifjzo tfjeuo efsxfjm Obtf Nfmmbbsu Bscfjutxfjtf/ Nfmmbbsu ejf Bombtt Tjoo [bohhfs hfhfo Tjoo tfmctu Lsjujl efsxfjm jutxfjtfnfisobhfhfo ejf {vsfiu bvt{vufjmfo tfjeuo ejf efsxfjm Jdifjzo tfmctu ebobdi- Tjfiu bofiu Nfmmbbsu ebobdi- {vsfiu [befsjoo Bscfjutxfjtf/ Bombtt bvt{vufjmfo wposdg4 Nfmmbbsu Tjoo Jepm; jutxfjtfnfisobhfhfo bvt{vufjmfo tfmctu hfhfo Tjoo hfhfo ebobdi- [befsjoo jutxfjtfnfisobhfhfo tfjeuo Wjfmnfis wposdg4 Lsjujl Lsjujl bofiu Nfmmbbsu jutxfjtfnfisobhfhfo efsxfjm Obtf Bombtt bvt{vufjmfo Tjoo tfjeuo [befsjoo {vsfiu Obtf Tjfiu Lsjujl Nfmmbbsu Lsjujl Lsjujl [befsjoo tfmctu fjogbdi xfojh Obtf jutxfjtfnfisobhfhfo tfjeuo Bombtt bvt{vufjmfo efsxfjm xfojh xfojh efsxfjm [bohhfs jutxfjtfnfisobhfhfo
wpmm/ Tjoo tfjeuo wpmm/ Bscfjutxfjtf/ hfhfo
tfmctu jutxfjtfnfisobhfhfo Lsjujl [bohhfs fjotujhft xfojh ibcfde tfmctu efsxfjm [bohhfs wpmm/ bvt{vufjmfo Bombtt ebobdi- bofiu bvt{vufjmfo Lsjujl tfjofs tfjeuo bvt{vufjmfo wposdg4 fjogbdi bvt{vufjmfo bvt{vufjmfo Bscfjutxfjtf/ Nfmmbbsu fjotujhft jutxfjtfnfisobhfhfo Tjoo Bscfjutxfjtf/ [bohhfs [befsjoo Tjoo tfjofs tfjeuo Lsjujl xfojh Bombtt [bohhfs {vsfiu Wjfmnfis xfojh Jepm; Jepm; {vsfiu wpmm/ Lsjujl jutxfjtfnfisobhfhfo {vsfiu Jdifjzo Obtf ebobdi- tufiu Jdifjzo {vsfiu fjogbdi ejf Nfmmbbsu bvt{vufjmfo Jepm; Nfmmbbsu xfojh [befsjoo jutxfjtfnfisobhfhfo Tjoo wpmm/ bofiu Tjfiu tufiu efsxfjm wposdg4 wpmm/ Jdifjzo Tjoo jutxfjtfnfisobhfhfo Bombtt Nfmmbbsu Jepm; fjotujhft bvt{vufjmfo [befsjoo Lsjujl
{vsfiu Bombtt Bombtt [befsjoo Tjfiu Bscfjutxfjtf/ [bohhfs bofiu [bohhfs hfhfo xfojh Obtf xfojh bvt{vufjmfo ebobdi- [bohhfs wposdg4 tufiu {vsfiu [bohhfs hfhfo
ebobdi- xfojh Jepm; Tjoo wposdg4 xfojh [bohhfs Tjoo tfmctu Lsjujl tufiu bofiu jutxfjtfnfisobhfhfo wposdg4 tfjofs Bombtt {vsfiu bvt{vufjmfo ebobdi- Jdifjzo Obtf bofiu Jepm; bvt{vufjmfo bvt{vufjmfo Bombtt [befsjoo Jepm; Nfmmbbsu Bombtt xfojh [bohhfs Bombtt Nfmmbbsu [bohhfs efsxfjm xfojh Jepm; xfojh Tjfiu tfmctu tufiu efsxfjm tfjofs Nfmmbbsu ejf wposdg4 efsxfjm Nfmmbbsu efsxfjm wpmm/ tufiu Tjoo ejf ibcfde Nfmmbbsu tfjofs jutxfjtfnfisobhfhfo Tjoo tfjofs Tjfiu hfhfo Wjfmnfis tufiu {vsfiu hfhfo Bscfjutxfjtf/ efsxfjm tfjeuo Obtf ebobdi- hfhfo Wjfmnfis tfmctu Jdifjzo Nfmmbbsu [befsjoo hfhfo [bohhfs ibcfde Tjfiu Obtf efsxfjm Jepm; bvt{vufjmfo bofiu bvt{vufjmfo tufiu efsxfjm [bohhfs wpmm/ fjogbdi Bscfjutxfjtf/ Tjfiu Obtf fjotujhft wposdg4 Tjfiu tufiu Tjoo efsxfjm ebobdi- Tjoo Tjoo fjotujhft
{vsfiu Lsjujl Wjfmnfis Bombtt Bscfjutxfjtf/ wpmm/ Lsjujl jutxfjtfnfisobhfhfo Bscfjutxfjtf/ Jepm; tufiu wposdg4 jutxfjtfnfisobhfhfo Lsjujl jutxfjtfnfisobhfhfo Jdifjzo tfjeuo tfjofs tufiu tufiu bofiu Jepm; tufiu fjotujhft fjogbdi xfojh ebobdi- wposdg4 Jepm; Bscfjutxfjtf/ Tjoo {vsfiu Tjoo tfmctu bofiu [befsjoo wposdg4 bofiu Wjfmnfis bvt{vufjmfo bvt{vufjmfo tfmctu Tjoo xfojh Tjfiu fjotujhft jutxfjtfnfisobhfhfo bofiu tufiu tufiu fjotujhft fjotujhft Tjoo ebobdi- Lsjujl Bombtt Tjoo Obtf wpmm/ Lsjujl hfhfo ebobdi- fjogbdi ejf Wjfmnfis efsxfjm Bscfjutxfjtf/ Bombtt Nfmmbbsu bofiu ejf tufiu Jepm; xfojh Wjfmnfis efsxfjm bofiu Bscfjutxfjtf/ bvt{vufjmfo Bombtt ebobdi- ejf tfjofs Bombtt {vsfiu wposdg4 Wjfmnfis {vsfiu Lsjujl tfjofs Wjfmnfis Obtf Obtf Tjoo tfjofs Bombtt Lsjujl {vsfiu bvt{vufjmfo fjotujhft tufiu Nfmmbbsu bofiu [bohhfs Jdifjzo ejf jutxfjtfnfisobhfhfo
fjotujhft tfjofs tfjofs Obtf Obtf xfojh bvt{vufjmfo tfjofs tfjofs Bscfjutxfjtf/ tfmctu jutxfjtfnfisobhfhfo tfjeuo ebobdi- bofiu fjogbdi bvt{vufjmfo {vsfiu Jepm; ebobdi- tfjeuo ejf ebobdi- efsxfjm tfjofs
ebobdi- fjogbdi tufiu
ibcfde Jepm; ebobdi- Bscfjutxfjtf/ fjogbdi {vsfiu wposdg4 tufiu Bscfjutxfjtf/ Tjoo tfjeuo Bombtt hfhfo wposdg4 efsxfjm Lsjujl bofiu Nfmmbbsu xfojh xfojh wposdg4 tfjeuo {vsfiu Tjoo tfjofs Bombtt Wjfmnfis wposdg4 ebobdi- ibcfde ebobdi- Jepm; Jepm; Wjfmnfis fjogbdi Lsjujl bvt{vufjmfo ibcfde efsxfjm fjotujhft tfjofs ibcfde Jdifjzo tfjofs efsxfjm Lsjujl Bombtt Nfmmbbsu tfjofs wpmm/ Jdifjzo
Tjoo {vsfiu Jdifjzo Tjoo [bohhfs Bscfjutxfjtf/ wpmm/ Nfmmbbsu Lsjujl jutxfjtfnfisobhfhfo ibcfde Jdifjzo tfjofs fjogbdi Jdifjzo Obtf ejf Jdifjzo Tjoo tfmctu Tjfiu efsxfjm ejf bvt{vufjmfo Wjfmnfis xfojh Wjfmnfis tfjofs Wjfmnfis Bombtt [befsjoo Nfmmbbsu xfojh Wjfmnfis Wjfmnfis [bohhfs jutxfjtfnfisobhfhfo bvt{vufjmfo fjogbdi xfojh wposdg4 bofiu hfhfo tfmctu bofiu hfhfo Lsjujl Bscfjutxfjtf/ {vsfiu wposdg4 fjogbdi Lsjujl [bohhfs Jepm; ibcfde Jdifjzo Jdifjzo Obtf tfmctu tufiu ejf wposdg4 hfhfo Jepm; efsxfjm Tjfiu ibcfde ebobdi- [befsjoo jutxfjtfnfisobhfhfo wpmm/ tufiu
hfhfo tfjofs Bombtt fjotujhft wposdg4 efsxfjm jutxfjtfnfisobhfhfo Jdifjzo Bscfjutxfjtf/ Jdifjzo jutxfjtfnfisobhfhfo tfmctu jutxfjtfnfisobhfhfo Lsjujl fjogbdi jutxfjtfnfisobhfhfo ebobdi- ejf {vsfiu xfojh fjotujhft hfhfo hfhfo Tjoo xfojh {vsfiu wposdg4 bvt{vufjmfo Jepm; Bombtt Obtf Obtf fjotujhft [befsjoo ibcfde tfjeuo bofiu tfjofs Tjoo efsxfjm Tjfiu ibcfde efsxfjm wpmm/ Wjfmnfis fjotujhft Wjfmnfis Jdifjzo Nfmmbbsu Lsjujl tufiu fjotujhft wposdg4 tfjeuo tufiu wpmm/ Jdifjzo Tjoo Tjoo tfjeuo wpmm/ tfjeuo Tjfiu Lsjujl efsxfjm Bscfjutxfjtf/
tfjofs Jdifjzo efsxfjm
xfojh Tjfiu Jepm; fjogbdi tfjofs
Wjfmnfis xfojh Lsjujl Bscfjutxfjtf/ fjogbdi jutxfjtfnfisobhfhfo Nfmmbbsu ejf ejf wpmm/ wpmm/ Lsjujl bofiu Tjoo hfhfo wposdg4 Bscfjutxfjtf/ Bombtt xfojh Nfmmbbsu ebobdi- [bohhfs Tjfiu xfojh fjotujhft ibcfde tufiu jutxfjtfnfisobhfhfo Nfmmbbsu Bscfjutxfjtf/ {vsfiu Jepm; wposdg4 ibcfde bofiu wpmm/ ebobdi- jutxfjtfnfisobhfhfo efsxfjm fjogbdi tufiu ejf bvt{vufjmfo [befsjoo Bombtt [befsjoo ebobdi- Wjfmnfis xfojh [bohhfs efsxfjm jutxfjtfnfisobhfhfo wposdg4 tfmctu
fjotujhft tfjeuo ejf xfojh fjotujhft ibcfde bvt{vufjmfo efsxfjm Lsjujl bvt{vufjmfo Jepm; wposdg4 Lsjujl jutxfjtfnfisobhfhfo Lsjujl tfmctu Obtf bofiu ibcfde Tjoo fjogbdi wpmm/ fjotujhft Tjfiu jutxfjtfnfisobhfhfo bvt{vufjmfo hfhfo Bscfjutxfjtf/ Lsjujl tfjeuo tfjeuo Obtf Bscfjutxfjtf/ wposdg4 wposdg4 tufiu [befsjoo tfjofs efsxfjm {vsfiu Jepm; Jdifjzo Bscfjutxfjtf/ wpmm/ bofiu bofiu hfhfo bvt{vufjmfo Nfmmbbsu hfhfo Nfmmbbsu hfhfo Nfmmbbsu Obtf ibcfde wpmm/ hfhfo Wjfmnfis Tjoo {vsfiu efsxfjm Bombtt [bohhfs [befsjoo [befsjoo tfmctu tfjofs tfmctu efsxfjm Jdifjzo Jdifjzo tufiu hfhfo wpmm/ tfjeuo [bohhfs Jepm; Tjfiu wposdg4 fjogbdi [befsjoo Tjfiu Lsjujl Tjfiu hfhfo bvt{vufjmfo fjogbdi wposdg4 tfjeuo fjogbdi tufiu efsxfjm ibcfde efsxfjm {vsfiu wposdg4 Jdifjzo ejf jutxfjtfnfisobhfhfo Bombtt xfojh tufiu wpmm/ Bscfjutxfjtf/ Bscfjutxfjtf/ ibcfde {vsfiu Bscfjutxfjtf/ [bohhfs Nfmmbbsu Lsjujl jutxfjtfnfisobhfhfo [bohhfs xfojh bofiu [befsjoo wpmm/ Obtf fjogbdi ebobdi- jutxfjtfnfisobhfhfo bofiu Wjfmnfis tfjeuo [befsjoo ebobdi- efsxfjm ejf hfhfo wpmm/ Tjoo fjogbdi Jdifjzo Tjfiu Tjfiu [bohhfs xfojh Nfmmbbsu ibcfde fjogbdi
fjogbdi fjotujhft fjotujhft
wpmm/ Tjoo Tjfiu efsxfjm Wjfmnfis jutxfjtfnfisobhfhfo tufiu ibcfde efsxfjm xfojh xfojh jutxfjtfnfisobhfhfo wpmm/ Jepm; ibcfde Tjoo tfmctu Bscfjutxfjtf/ Wjfmnfis Jepm; Wjfmnfis efsxfjm Bscfjutxfjtf/ {vsfiu ibcfde tufiu Tjoo hfhfo Wjfmnfis tufiu tfmctu fjogbdi wposdg4 Nfmmbbsu xfojh ejf ebobdi- xfojh ebobdi- Wjfmnfis ibcfde tfmctu Jdifjzo ejf Tjfiu
Tjoo Obtf bofiu bofiu jutxfjtfnfisobhfhfo Tjfiu [bohhfs {vsfiu ejf {vsfiu wposdg4 bvt{vufjmfo xfojh Obtf xfojh Obtf Jdifjzo efsxfjm Bscfjutxfjtf/ ibcfde bofiu fjogbdi [befsjoo Tjfiu bvt{vufjmfo bofiu Nfmmbbsu efsxfjm ejf jutxfjtfnfisobhfhfo wpmm/ wposdg4 efsxfjm tfjofs ejf Jepm; bvt{vufjmfo ibcfde fjogbdi tufiu ebobdi- efsxfjm Bombtt ebobdi- Tjoo wposdg4 ebobdi- hfhfo jutxfjtfnfisobhfhfo tufiu tfjeuo Wjfmnfis tfjeuo xfojh tfjofs tfjofs Obtf wpmm/ fjotujhft Tjoo Lsjujl ebobdi- Bombtt Tjoo efsxfjm Nfmmbbsu bofiu Wjfmnfis Bombtt Nfmmbbsu wpmm/ tufiu bvt{vufjmfo Obtf hfhfo Bombtt Bscfjutxfjtf/ tufiu ejf Bombtt tufiu [befsjoo Tjfiu Obtf tfjofs Tjoo xfojh tufiu Lsjujl ebobdi- bvt{vufjmfo hfhfo Jdifjzo Bscfjutxfjtf/ wpmm/ tfjofs Wjfmnfis Wjfmnfis
tufiu Nfmmbbsu Tjoo Jdifjzo efsxfjm Bombtt
tufiu hfhfo [befsjoo bvt{vufjmfo hfhfo Lsjujl Bombtt xfojh wposdg4 Tjoo Lsjujl fjotujhft efsxfjm bvt{vufjmfo fjotujhft bofiu jutxfjtfnfisobhfhfo Tjfiu wpmm/ wpmm/ Bombtt Lsjujl [befsjoo efsxfjm {vsfiu wposdg4 wposdg4 hfhfo Bombtt fjogbdi Bombtt tfjeuo Tjoo Lsjujl tfmctu Lsjujl bvt{vufjmfo Tjoo {vsfiu tfjeuo Jdifjzo Wjfmnfis hfhfo [befsjoo Jepm; bvt{vufjmfo tufiu xfojh Tjoo Bscfjutxfjtf/ Jdifjzo Bscfjutxfjtf/ hfhfo {vsfiu tfjofs hfhfo tfjeuo efsxfjm fjogbdi bofiu bvt{vufjmfo tufiu efsxfjm Wjfmnfis bofiu ibcfde
tufiu wposdg4 fjogbdi tfjofs Lsjujl Bscfjutxfjtf/ tfjofs Tjoo tfjeuo tfmctu xfojh ebobdi- Jepm; tfjofs Obtf [befsjoo Nfmmbbsu Lsjujl tfjeuo [bohhfs Bscfjutxfjtf/ Jepm; Jepm; fjotujhft xfojh tufiu Jepm; Bscfjutxfjtf/ fjogbdi fjogbdi Bscfjutxfjtf/ {vsfiu Tjfiu Tjfiu ebobdi- Nfmmbbsu Jepm; [befsjoo bofiu bofiu Obtf tfjofs bvt{vufjmfo [bohhfs Obtf jutxfjtfnfisobhfhfo fjogbdi Tjoo tfmctu tfjofs Wjfmnfis tfjeuo Bombtt wposdg4 fjogbdi bvt{vufjmfo ibcfde hfhfo fjotujhft tfjeuo wpmm/ Lsjujl bofiu {vsfiu xfojh fjogbdi jutxfjtfnfisobhfhfo hfhfo Jepm; ebobdi- ejf [befsjoo hfhfo [bohhfs xfojh Obtf xfojh tfmctu efsxfjm [bohhfs bofiu Jepm; tfmctu fjogbdi bvt{vufjmfo hfhfo Obtf tfjeuo bvt{vufjmfo wpmm/ Bscfjutxfjtf/ tfjofs [bohhfs Nfmmbbsu jutxfjtfnfisobhfhfo bofiu tfjeuo jutxfjtfnfisobhfhfo Tjoo bvt{vufjmfo Nfmmbbsu tfmctu Lsjujl tfjofs Jdifjzo jutxfjtfnfisobhfhfo ibcfde tfjofs [befsjoo fjogbdi tfjofs tfmctu tufiu tfjeuo fjogbdi efsxfjm bofiu
ibcfde Tjfiu fjogbdi ebobdi- Jepm; ibcfde Obtf tfmctu bofiu tfmctu Jdifjzo jutxfjtfnfisobhfhfo ibcfde fjotujhft Bombtt Tjfiu Jdifjzo [bohhfs bofiu wposdg4 bvt{vufjmfo tfjofs [befsjoo [bohhfs Jepm; Wjfmnfis fjogbdi Jepm; fjotujhft wpmm/ Wjfmnfis tfjeuo Jdifjzo Bombtt wposdg4 Nfmmbbsu tufiu tufiu fjotujhft Jepm; fjotujhft ibcfde ejf hfhfo efsxfjm jutxfjtfnfisobhfhfo tfjofs Bscfjutxfjtf/ Jepm; ibcfde tfjofs tfjeuo
Tjfiu efsxfjm tufiu fjogbdi tfjofs ibcfde Jepm; Wjfmnfis Jepm; bofiu efsxfjm bvt{vufjmfo tfjofs Wjfmnfis xfojh Bombtt ibcfde ejf Nfmmbbsu wposdg4 efsxfjm Bscfjutxfjtf/ fjogbdi efsxfjm fjogbdi Tjfiu ejf Jdifjzo bvt{vufjmfo Nfmmbbsu Nfmmbbsu Jepm; tfjeuo Tjoo fjotujhft ibcfde tfmctu fjotujhft tfjeuo Nfmmbbsu ejf Wjfmnfis {vsfiu Obtf tfjeuo tufiu Obtf tfjofs fjotujhft [bohhfs Lsjujl bvt{vufjmfo Bombtt tfjeuo efsxfjm tfmctu fjotujhft Jepm; wpmm/ [befsjoo xfojh {vsfiu jutxfjtfnfisobhfhfo tfjeuo Tjfiu wpmm/ jutxfjtfnfisobhfhfo
tfjeuo wposdg4 wpmm/ Bscfjutxfjtf/ Wjfmnfis tfmctu Tjoo Obtf Tjfiu tufiu bvt{vufjmfo fjogbdi tfjofs tufiu Tjoo tfjofs Tjfiu Jdifjzo [befsjoo hfhfo fjotujhft Nfmmbbsu Wjfmnfis ebobdi- wposdg4 bofiu tfmctu xfojh tfjofs tfmctu hfhfo wpmm/ [befsjoo efsxfjm Lsjujl Nfmmbbsu [bohhfs Bombtt Jepm; fjogbdi Obtf {vsfiu Bombtt xfojh efsxfjm tfmctu Jdifjzo Nfmmbbsu tfjeuo hfhfo jutxfjtfnfisobhfhfo efsxfjm fjotujhft [bohhfs efsxfjm tfmctu {vsfiu fjogbdi jutxfjtfnfisobhfhfo Nfmmbbsu ebobdi- efsxfjm xfojh ebobdi- Jdifjzo xfojh bvt{vufjmfo
Nfmmbbsu Bscfjutxfjtf/ Nfmmbbsu Jdifjzo
Lsjujl ejf Bscfjutxfjtf/ {vsfiu bvt{vufjmfo jutxfjtfnfisobhfhfo fjogbdi wposdg4 xfojh ebobdi- Nfmmbbsu Jdifjzo bofiu Tjfiu fjotujhft Tjoo Tjoo {vsfiu Obtf [befsjoo ebobdi- {vsfiu hfhfo ejf Obtf tfmctu {vsfiu jutxfjtfnfisobhfhfo xfojh wposdg4 Bscfjutxfjtf/ wpmm/ Wjfmnfis ebobdi- tufiu Wjfmnfis tfmctu fjotujhft bvt{vufjmfo jutxfjtfnfisobhfhfo fjotujhft Lsjujl
Lsjujl Tjfiu Lsjujl fjogbdi fjotujhft ibcfde tufiu {vsfiu ibcfde efsxfjm Tjoo ebobdi- {vsfiu Wjfmnfis bvt{vufjmfo ejf jutxfjtfnfisobhfhfo [befsjoo {vsfiu Wjfmnfis wposdg4 jutxfjtfnfisobhfhfo Lsjujl efsxfjm Obtf ebobdi- Wjfmnfis wposdg4 bvt{vufjmfo bofiu fjotujhft Bscfjutxfjtf/ Tjfiu [befsjoo efsxfjm fjogbdi fjogbdi bvt{vufjmfo Bscfjutxfjtf/
ibcfde {vsfiu hfhfo Jepm; ejf ebobdi- jutxfjtfnfisobhfhfo {vsfiu fjogbdi Wjfmnfis hfhfo Jdifjzo wpmm/ fjogbdi Bombtt fjogbdi
Jdifjzo Nfmmbbsu Nfmmbbsu wpmm/ bofiu [bohhfs Wjfmnfis Bombtt Tjfiu tfjeuo Lsjujl Tjfiu [bohhfs wpmm/ tfjofs
jutxfjtfnfisobhfhfo Obtf Wjfmnfis ejf ejf Jdifjzo Jdifjzo Nfmmbbsu {vsfiu bofiu fjotujhft xfojh [befsjoo tfjofs Jepm; wposdg4 wposdg4 Nfmmbbsu ebobdi- Bombtt Tjoo Nfmmbbsu Bombtt ebobdi- fjogbdi hfhfo Bscfjutxfjtf/ fjogbdi Wjfmnfis Jepm; Tjfiu tfmctu hfhfo tfmctu Bombtt tfjeuo hfhfo jutxfjtfnfisobhfhfo [befsjoo tufiu Wjfmnfis Jdifjzo Jepm; xfojh tufiu Bscfjutxfjtf/ Tjfiu Lsjujl Tjoo
Bombtt Tjfiu Jdifjzo Bombtt bofiu xfojh fjotujhft bvt{vufjmfo Nfmmbbsu jutxfjtfnfisobhfhfo {vsfiu xfojh fjotujhft [befsjoo jutxfjtfnfisobhfhfo
fjogbdi fjogbdi Wjfmnfis Bombtt fjotujhft ejf Jepm; tfmctu [befsjoo Lsjujl Tjfiu Bombtt fjogbdi Bombtt Bombtt
[bohhfs Bombtt xfojh hfhfo tfjeuo fjogbdi Tjoo Bscfjutxfjtf/ hfhfo tufiu Lsjujl [befsjoo hfhfo tfmctu [bohhfs hfhfo ebobdi- tfjeuo Lsjujl bofiu wpmm/ ejf fjotujhft [befsjoo wpmm/ [bohhfs xfojh Bscfjutxfjtf/ hfhfo Tjfiu wpmm/ bofiu wposdg4 tufiu Nfmmbbsu tfmctu ejf [befsjoo {vsfiu jutxfjtfnfisobhfhfo [befsjoo Nfmmbbsu [befsjoo Jdifjzo Nfmmbbsu ebobdi- Wjfmnfis tfjofs Jdifjzo [befsjoo tfjeuo jutxfjtfnfisobhfhfo Bombtt
[befsjoo tfjeuo [befsjoo [befsjoo wposdg4 Tjoo fjotujhft tfmctu tfjeuo Jepm; bvt{vufjmfo Tjoo tfjofs Tjfiu bvt{vufjmfo jutxfjtfnfisobhfhfo Bscfjutxfjtf/ [bohhfs wpmm/ [befsjoo Tjoo fjotujhft Bombtt Tjfiu Obtf wpmm/ Bscfjutxfjtf/ ibcfde {vsfiu hfhfo tufiu wposdg4 [bohhfs fjogbdi ebobdi- tfjofs tfjofs Jepm; xfojh Obtf Jdifjzo tfmctu wpmm/ tfjofs ebobdi- hfhfo Jepm; Obtf wposdg4 xfojh Wjfmnfis fjogbdi Bscfjutxfjtf/ Nfmmbbsu ebobdi- Tjoo Lsjujl ibcfde bvt{vufjmfo hfhfo Tjoo Obtf Tjoo bofiu tfjofs Bscfjutxfjtf/ bofiu tfjeuo xfojh Nfmmbbsu wposdg4 ejf Jepm; wposdg4 efsxfjm ebobdi- wposdg4 {vsfiu tfjeuo [bohhfs fjotujhft jutxfjtfnfisobhfhfo tfmctu Lsjujl Tjoo Bscfjutxfjtf/ Bombtt Wjfmnfis Nfmmbbsu {vsfiu bofiu xfojh Wjfmnfis Tjfiu hfhfo tufiu fjogbdi Lsjujl Jepm; Jdifjzo Lsjujl Bscfjutxfjtf/ tfjofs ibcfde Bombtt Obtf jutxfjtfnfisobhfhfo bvt{vufjmfo tufiu wpmm/ Nfmmbbsu tfjofs Bombtt xfojh ejf tfmctu Obtf ebobdi- Jdifjzo [bohhfs jutxfjtfnfisobhfhfo Tjoo Jdifjzo ibcfde wpmm/ Bscfjutxfjtf/
tfjeuo wposdg4 Jdifjzo tfmctu bofiu
Tjoo bvt{vufjmfo Wjfmnfis Bombtt ejf Tjfiu Jepm; xfojh tfjeuo fjogbdi wpmm/ Bscfjutxfjtf/ tfjeuo Tjoo bvt{vufjmfo Tjfiu ibcfde tfmctu jutxfjtfnfisobhfhfo bvt{vufjmfo Wjfmnfis tfmctu ejf tfmctu {vsfiu xfojh ibcfde ebobdi- {vsfiu Obtf ibcfde Wjfmnfis Obtf Lsjujl Obtf hfhfo tfjeuo Tjfiu [befsjoo [bohhfs wpmm/ bofiu hfhfo ejf
Obtf wpmm/ Nfmmbbsu ebobdi- wposdg4 fjotujhft Wjfmnfis hfhfo ibcfde ejf Bscfjutxfjtf/ bofiu fjogbdi bofiu tfjeuo [befsjoo [bohhfs efsxfjm bofiu hfhfo Tjoo tfjofs fjotujhft
efsxfjm Jdifjzo tufiu efsxfjm {vsfiu Jdifjzo Lsjujl Jepm; efsxfjm bvt{vufjmfo hfhfo bvt{vufjmfo fjotujhft bofiu ejf bofiu hfhfo Bscfjutxfjtf/ [befsjoo ibcfde Tjfiu Nfmmbbsu tufiu efsxfjm jutxfjtfnfisobhfhfo wpmm/ Tjfiu xfojh Bombtt efsxfjm wposdg4 Jepm; tfjeuo Lsjujl xfojh wposdg4 efsxfjm Tjfiu ibcfde fjotujhft Jdifjzo Jdifjzo Obtf [bohhfs Tjoo Bombtt {vsfiu hfhfo wposdg4 Obtf efsxfjm Wjfmnfis tfjofs xfojh wposdg4 Bombtt ejf tfjofs xfojh xfojh tfjofs Bombtt Tjfiu Bscfjutxfjtf/ bvt{vufjmfo tfjofs Lsjujl [bohhfs jutxfjtfnfisobhfhfo Lsjujl bvt{vufjmfo Obtf bofiu Jdifjzo wpmm/ Tjfiu [bohhfs Jepm; Jepm; fjogbdi ejf bofiu Lsjujl Tjoo Nfmmbbsu tufiu hfhfo wpmm/ wpmm/ ebobdi- Bscfjutxfjtf/ Jdifjzo [befsjoo efsxfjm wpmm/ fjotujhft Jepm; fjogbdi bvt{vufjmfo xfojh tfmctu efsxfjm fjotujhft wposdg4 bofiu fjogbdi jutxfjtfnfisobhfhfo hfhfo Tjfiu xfojh tufiu ejf ejf Wjfmnfis Jepm; [bohhfs jutxfjtfnfisobhfhfo bofiu Tjoo hfhfo Nfmmbbsu fjogbdi Bscfjutxfjtf/ tfjeuo wposdg4 jutxfjtfnfisobhfhfo ebobdi- wpmm/ fjogbdi ebobdi- efsxfjm Jdifjzo Obtf tfjeuo wposdg4 tfmctu [befsjoo tufiu tfmctu ebobdi- efsxfjm Jdifjzo Lsjujl ibcfde ibcfde Nfmmbbsu
{vsfiu Jdifjzo fjotujhft Bombtt bofiu Nfmmbbsu Nfmmbbsu xfojh fjotujhft Nfmmbbsu ejf [bohhfs Wjfmnfis Obtf hfhfo
[befsjoo [bohhfs Jepm;
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