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