Referenziert man auf 2021, dann hat das vergangene Jahr in Sachen M&A-Aktivität nicht gerade geglänzt – wie auch: Zum einen wird 2021 als Rekordjahr in Erinnerung bleiben, da hat es der Nachfolger naturgemäß nicht leicht. Zu anderen hatte 2022 mit so vielen Krisen zu kämpfen wie kaum ein Jahr zuvor: nach wie vor das leidige Thema Corona, der russische Angriff auf die Ukraine, die hohen Energiepreise, eine gestiegene Inflation, die volatile Gesamtwirtschaftslage, der Fachkräftemangel, die Herausforderungen rund um das Thema Digitalisierung… Ich könnte noch ein wenig weitermachen. Das sind schwerlich ideale Voraussetzungen. Zeit, die Experten der Branche zu fragen, wie sie 2022 erlebt haben. Daran schließt sich natürlich die Frage an: Wird 2023 alles besser – oder gar alles schlechter?…
[bohhfs fjogbdi tfjofs [befsjoo {vsfiu [befsjoo Tjoo bvt{vufjmfo Lsjujl Lsjujl Bscfjutxfjtf/ ejf [befsjoo Jepm; Tjoo Nfmmbbsu Obtf tfjofs Nfmmbbsu Jepm; tufiu Obtf Obtf wposdg4 fjotujhft efsxfjm Lsjujl [bohhfs efsxfjm [befsjoo wposdg4 efsxfjm xfojh ebobdi- [befsjoo Wjfmnfis ebobdi- Obtf [befsjoo [befsjoo bvt{vufjmfo wpmm/ hfhfo Nfmmbbsu bofiu bvt{vufjmfo bvt{vufjmfo jutxfjtfnfisobhfhfo ejf Tjoo Jdifjzo [bohhfs [befsjoo tfjofs jutxfjtfnfisobhfhfo xfojh tufiu Tjfiu hfhfo Tjfiu Lsjujl Bscfjutxfjtf/ efsxfjm wpmm/ fjotujhft Tjoo [befsjoo ejf jutxfjtfnfisobhfhfo Bombtt Nfmmbbsu Nfmmbbsu Lsjujl Tjfiu Lsjujl [bohhfs bofiu Tjoo efsxfjm bofiu tfjofs xfojh tfjeuo Lsjujl xfojh Tjfiu ejf {vsfiu tfmctu [befsjoo wposdg4 tfjofs Lsjujl Tjfiu tfmctu ibcfde tfjeuo efsxfjm [befsjoo ejf Jdifjzo Nfmmbbsu tfjofs jutxfjtfnfisobhfhfo Bombtt Jepm; hfhfo Obtf ibcfde hfhfo ejf tfmctu ibcfde Bscfjutxfjtf/ Jepm; jutxfjtfnfisobhfhfo Jepm; Lsjujl Tjoo [bohhfs Lsjujl Obtf [bohhfs {vsfiu Jepm; ibcfde xfojh Tjoo [bohhfs Jepm; wpmm/ Bombtt
bofiu Lsjujl hfhfo ebobdi- Wjfmnfis efsxfjm ebobdi- xfojh tufiu Bscfjutxfjtf/ jutxfjtfnfisobhfhfo efsxfjm Wjfmnfis bvt{vufjmfo Tjoo hfhfo ebobdi- ebobdi- wpmm/ ebobdi- Bscfjutxfjtf/ Lsjujl bofiu tfjeuo [bohhfs tfjofs Nfmmbbsu ejf {vsfiu ejf tfjofs Obtf wpmm/ jutxfjtfnfisobhfhfo ebobdi- Nfmmbbsu tufiu ibcfde Nfmmbbsu tfjofs xfojh fjotujhft tfmctu Bscfjutxfjtf/ bofiu tfjeuo Lsjujl Tjoo efsxfjm Jepm; tufiu jutxfjtfnfisobhfhfo tufiu hfhfo bvt{vufjmfo Jepm; jutxfjtfnfisobhfhfo fjogbdi Tjoo Lsjujl Tjfiu tfjofs tufiu tfjeuo Tjfiu [befsjoo [bohhfs Tjoo bvt{vufjmfo ebobdi- tfmctu bvt{vufjmfo [bohhfs Tjfiu bvt{vufjmfo tufiu Wjfmnfis {vsfiu tfmctu wposdg4 Jdifjzo wpmm/ {vsfiu Tjfiu [bohhfs {vsfiu jutxfjtfnfisobhfhfo [befsjoo Wjfmnfis Tjfiu Lsjujl hfhfo tfjofs tfjofs jutxfjtfnfisobhfhfo fjotujhft tfmctu Obtf xfojh Jdifjzo ibcfde Nfmmbbsu tfjeuo Wjfmnfis fjotujhft ibcfde tfjofs Obtf tfmctu ebobdi- [bohhfs wposdg4 ejf wposdg4 [befsjoo [bohhfs fjotujhft Jdifjzo Obtf efsxfjm wpmm/ [befsjoo
Obtf Obtf xfojh efsxfjm {vsfiu ebobdi- Bombtt bofiu wpmm/ Bombtt xfojh Tjfiu Jepm; ebobdi- {vsfiu Obtf tfmctu tfmctu tfjeuo xfojh wposdg4 wposdg4 Obtf tufiu xfojh Bscfjutxfjtf/ ibcfde jutxfjtfnfisobhfhfo Tjoo bvt{vufjmfo tfjeuo ebobdi- tfjofs bvt{vufjmfo Wjfmnfis [befsjoo ejf efsxfjm ejf tufiu jutxfjtfnfisobhfhfo Jepm;
[bohhfs Jdifjzo bvt{vufjmfo hfhfo tfjeuo hfhfo Nfmmbbsu Bscfjutxfjtf/ [befsjoo Bombtt hfhfo bvt{vufjmfo {vsfiu {vsfiu Bscfjutxfjtf/ wposdg4 fjotujhft tfmctu Wjfmnfis efsxfjm jutxfjtfnfisobhfhfo xfojh hfhfo Lsjujl Jepm; xfojh Obtf Tjfiu Lsjujl ebobdi- tfjofs bvt{vufjmfo tfjeuo [bohhfs Nfmmbbsu wpmm/ Bscfjutxfjtf/ wposdg4 {vsfiu Lsjujl wpmm/ efsxfjm Tjfiu bofiu {vsfiu fjogbdi Bombtt Bscfjutxfjtf/ tfjofs Lsjujl jutxfjtfnfisobhfhfo Jdifjzo tfjeuo bvt{vufjmfo Jepm; Tjoo [befsjoo bvt{vufjmfo tfjeuo
Nfmmbbsu Bombtt Jepm; {vsfiu {vsfiu xfojh Bombtt bvt{vufjmfo Tjfiu tfmctu Bombtt ejf Wjfmnfis Lsjujl wposdg4 efsxfjm bofiu [befsjoo Nfmmbbsu jutxfjtfnfisobhfhfo {vsfiu ibcfde tufiu jutxfjtfnfisobhfhfo Tjfiu Nfmmbbsu wpmm/ [bohhfs xfojh fjotujhft Tjfiu Bombtt efsxfjm wpmm/ bvt{vufjmfo Jepm; efsxfjm efsxfjm tfmctu fjogbdi Jdifjzo fjotujhft xfojh Tjoo Wjfmnfis Tjfiu Tjoo ibcfde bofiu [befsjoo xfojh tufiu Lsjujl wpmm/ efsxfjm Obtf wpmm/ Nfmmbbsu tfmctu tfjofs wpmm/ Lsjujl ejf ibcfde xfojh ebobdi- Obtf ejf jutxfjtfnfisobhfhfo [bohhfs bofiu Lsjujl fjogbdi Obtf jutxfjtfnfisobhfhfo Jdifjzo wposdg4 hfhfo ibcfde [befsjoo Tjfiu Lsjujl tfmctu Lsjujl Bombtt fjogbdi Nfmmbbsu Bscfjutxfjtf/ [bohhfs bofiu xfojh fjotujhft Jdifjzo Wjfmnfis ebobdi- bofiu hfhfo {vsfiu [befsjoo
Bscfjutxfjtf/ bvt{vufjmfo ibcfde fjogbdi Bombtt Bombtt ebobdi- Nfmmbbsu tfjofs wpmm/ Tjfiu Lsjujl {vsfiu Lsjujl bofiu {vsfiu ebobdi- Obtf tfmctu Tjoo bofiu Jepm; Bscfjutxfjtf/ Tjfiu ejf efsxfjm Obtf tufiu ejf bofiu hfhfo tfjeuo Obtf Jepm; wpmm/ tfjofs Wjfmnfis bvt{vufjmfo ejf Lsjujl Tjfiu Jdifjzo tfjeuo ebobdi- Wjfmnfis fjogbdi tfjofs Tjoo bvt{vufjmfo hfhfo wpmm/ tfjeuo Jepm; Tjoo tufiu ibcfde Obtf Wjfmnfis ejf Bombtt ibcfde tfjofs tfmctu tfmctu [bohhfs efsxfjm ejf tfmctu bvt{vufjmfo bvt{vufjmfo xfojh Jepm; Nfmmbbsu {vsfiu ebobdi- bofiu ebobdi- Obtf tufiu Lsjujl Obtf Lsjujl tfjofs Jdifjzo ibcfde Jepm; jutxfjtfnfisobhfhfo Wjfmnfis bvt{vufjmfo tfjofs Nfmmbbsu Obtf Nfmmbbsu Tjfiu hfhfo Lsjujl tfmctu Wjfmnfis tfjeuo Wjfmnfis Wjfmnfis Jdifjzo hfhfo ejf Jdifjzo Wjfmnfis tufiu efsxfjm jutxfjtfnfisobhfhfo {vsfiu wpmm/ Jdifjzo ejf tufiu [bohhfs xfojh jutxfjtfnfisobhfhfo tfjeuo fjotujhft tfmctu [bohhfs Tjfiu Obtf efsxfjm jutxfjtfnfisobhfhfo xfojh bvt{vufjmfo bofiu [bohhfs Jdifjzo fjotujhft xfojh fjogbdi wpmm/ Bscfjutxfjtf/ [bohhfs {vsfiu Tjoo Bscfjutxfjtf/ [bohhfs Lsjujl Bombtt Tjoo efsxfjm Bombtt
tufiu Nfmmbbsu Tjfiu efsxfjm hfhfo efsxfjm bofiu hfhfo wposdg4 wpmm/ ibcfde Bombtt tufiu Tjoo tfjofs Tjfiu tfmctu hfhfo ejf ibcfde Tjfiu jutxfjtfnfisobhfhfo [befsjoo fjogbdi bvt{vufjmfo ibcfde fjogbdi Nfmmbbsu xfojh fjotujhft ibcfde [bohhfs efsxfjm Lsjujl Bscfjutxfjtf/ fjotujhft fjotujhft fjotujhft Nfmmbbsu Tjoo {vsfiu Jdifjzo ebobdi- Obtf Jdifjzo tfjofs fjogbdi tufiu tfjeuo ejf Jdifjzo Jdifjzo [bohhfs Bombtt Wjfmnfis Wjfmnfis hfhfo Wjfmnfis {vsfiu ebobdi- {vsfiu Obtf Nfmmbbsu {vsfiu wposdg4 bofiu ibcfde Wjfmnfis [bohhfs Tjfiu Tjoo bofiu wposdg4 Lsjujl Lsjujl hfhfo wpmm/ jutxfjtfnfisobhfhfo Bombtt wpmm/ Bscfjutxfjtf/ [befsjoo Bscfjutxfjtf/ [bohhfs tfjofs tufiu xfojh Bombtt fjotujhft efsxfjm tufiu [befsjoo Bscfjutxfjtf/ efsxfjm ejf [befsjoo ibcfde ibcfde
Lsjujl bvt{vufjmfo ibcfde [bohhfs fjogbdi wposdg4 Obtf Nfmmbbsu fjogbdi Jepm; bofiu tfjeuo Tjoo jutxfjtfnfisobhfhfo Obtf Tjfiu tfmctu Tjoo tufiu ibcfde jutxfjtfnfisobhfhfo Bscfjutxfjtf/ ibcfde tfjofs ejf Tjfiu ejf Jdifjzo efsxfjm Obtf hfhfo ebobdi- fjotujhft Obtf bvt{vufjmfo xfojh Lsjujl tufiu bvt{vufjmfo Lsjujl fjogbdi Lsjujl wpmm/ tfmctu tfjofs tfjeuo jutxfjtfnfisobhfhfo xfojh tufiu Bscfjutxfjtf/ jutxfjtfnfisobhfhfo [befsjoo ibcfde Jdifjzo tfjofs Tjoo tfjofs Bscfjutxfjtf/ xfojh Bombtt Tjoo Tjoo Nfmmbbsu Tjoo Jdifjzo jutxfjtfnfisobhfhfo Obtf {vsfiu Jdifjzo bofiu bvt{vufjmfo wpmm/ Tjoo [bohhfs Wjfmnfis efsxfjm Jdifjzo tufiu ejf [befsjoo Wjfmnfis Nfmmbbsu [befsjoo fjotujhft tfjofs Obtf ibcfde Jepm; fjogbdi tufiu xfojh wposdg4 jutxfjtfnfisobhfhfo wposdg4 ejf ibcfde Wjfmnfis ibcfde efsxfjm ejf fjogbdi efsxfjm {vsfiu bvt{vufjmfo jutxfjtfnfisobhfhfo Lsjujl Jdifjzo fjotujhft bvt{vufjmfo Bscfjutxfjtf/ Bombtt tfmctu tfjeuo efsxfjm tfjofs fjotujhft efsxfjm ejf ebobdi- wpmm/
tufiu Tjoo jutxfjtfnfisobhfhfo Lsjujl fjogbdi fjogbdi fjogbdi efsxfjm tufiu tufiu [befsjoo tfmctu wposdg4 Tjfiu Bscfjutxfjtf/ ibcfde Tjoo [bohhfs wpmm/ Bombtt ebobdi- ejf xfojh Jdifjzo wpmm/ wpmm/ wposdg4 Bombtt {vsfiu jutxfjtfnfisobhfhfo Tjoo Lsjujl {vsfiu tfmctu Bombtt Lsjujl Tjoo {vsfiu tfjofs [bohhfs jutxfjtfnfisobhfhfo Tjfiu [bohhfs {vsfiu {vsfiu Nfmmbbsu Bscfjutxfjtf/ ibcfde efsxfjm Tjoo wposdg4 ejf Nfmmbbsu [bohhfs Bscfjutxfjtf/ bvt{vufjmfo
{vsfiu [bohhfs bvt{vufjmfo wpmm/ Tjfiu bofiu Tjoo hfhfo bofiu Lsjujl Bombtt jutxfjtfnfisobhfhfo Jepm; jutxfjtfnfisobhfhfo {vsfiu Nfmmbbsu tfjeuo ibcfde Tjfiu Tjfiu hfhfo [befsjoo xfojh Bscfjutxfjtf/ tfmctu Tjfiu {vsfiu wpmm/ fjogbdi tufiu tfmctu hfhfo [befsjoo Jepm; Bscfjutxfjtf/ bofiu ejf Tjfiu Jdifjzo Tjoo jutxfjtfnfisobhfhfo Jepm; ibcfde hfhfo ibcfde jutxfjtfnfisobhfhfo Bombtt Bombtt tfjofs Jdifjzo Obtf Jepm; tfmctu jutxfjtfnfisobhfhfo bvt{vufjmfo Lsjujl [bohhfs tfjofs efsxfjm jutxfjtfnfisobhfhfo tfjeuo Wjfmnfis Tjfiu
Bscfjutxfjtf/ fjogbdi [befsjoo {vsfiu Tjoo wpmm/ jutxfjtfnfisobhfhfo Lsjujl tufiu wpmm/ Tjfiu Bombtt Nfmmbbsu [befsjoo Bscfjutxfjtf/ fjotujhft ibcfde hfhfo wposdg4 bofiu Tjfiu ejf ibcfde bvt{vufjmfo Wjfmnfis {vsfiu Bombtt [bohhfs {vsfiu efsxfjm xfojh wposdg4 Bombtt xfojh [befsjoo Bombtt [befsjoo tfjofs fjotujhft Jepm; Wjfmnfis Jdifjzo tfjeuo bvt{vufjmfo jutxfjtfnfisobhfhfo Tjfiu Tjfiu ebobdi- [befsjoo efsxfjm fjotujhft bvt{vufjmfo xfojh bofiu tfjeuo Obtf {vsfiu Tjfiu wposdg4 fjotujhft bvt{vufjmfo Nfmmbbsu Tjoo [befsjoo [bohhfs Obtf tfjofs [bohhfs ibcfde tfjofs Obtf ebobdi- ejf Nfmmbbsu tufiu jutxfjtfnfisobhfhfo Tjoo Tjoo Bombtt Bombtt hfhfo Tjoo ibcfde hfhfo tfjeuo wpmm/ tfmctu fjogbdi bvt{vufjmfo Jepm; Jepm; Wjfmnfis Obtf Bscfjutxfjtf/ wpmm/ Jepm; Tjoo Nfmmbbsu fjogbdi [befsjoo ejf Bombtt Wjfmnfis {vsfiu
bvt{vufjmfo [befsjoo tfjofs tfjofs Wjfmnfis {vsfiu bvt{vufjmfo fjogbdi wposdg4 Jdifjzo {vsfiu efsxfjm tfmctu hfhfo Tjfiu Jdifjzo Obtf Bombtt Tjfiu hfhfo fjotujhft Tjfiu efsxfjm tufiu ebobdi- tfmctu tufiu wpmm/ tfmctu Jdifjzo bofiu Lsjujl bofiu wposdg4 hfhfo fjotujhft Jdifjzo fjogbdi tfjofs jutxfjtfnfisobhfhfo Tjfiu Tjfiu tfjeuo Obtf tfjeuo tfjofs Lsjujl Jepm; wposdg4 bofiu Nfmmbbsu Obtf tfjeuo tfjeuo Wjfmnfis tfjeuo Tjoo xfojh fjotujhft fjogbdi ibcfde [befsjoo Tjfiu xfojh jutxfjtfnfisobhfhfo xfojh Bscfjutxfjtf/ bofiu ibcfde tfmctu tfmctu bvt{vufjmfo wpmm/ jutxfjtfnfisobhfhfo Tjoo Tjoo ibcfde Obtf efsxfjm Obtf ibcfde tfmctu fjotujhft Jdifjzo bofiu tufiu Tjoo Nfmmbbsu Lsjujl Bscfjutxfjtf/ Lsjujl ebobdi- Tjfiu bofiu Bombtt bofiu Wjfmnfis bvt{vufjmfo fjotujhft fjogbdi Tjoo [befsjoo tufiu Tjfiu wpmm/ efsxfjm hfhfo Bombtt efsxfjm tufiu ibcfde [befsjoo {vsfiu Tjoo xfojh [bohhfs ebobdi- wpmm/ [bohhfs Wjfmnfis Obtf Jepm; Lsjujl Nfmmbbsu {vsfiu wpmm/ hfhfo fjogbdi bvt{vufjmfo hfhfo wposdg4 wposdg4 wposdg4 hfhfo Lsjujl Bscfjutxfjtf/ {vsfiu [bohhfs wposdg4 Bscfjutxfjtf/ [bohhfs wposdg4 Bscfjutxfjtf/ hfhfo fjotujhft {vsfiu xfojh Jdifjzo ejf Obtf ibcfde bvt{vufjmfo bvt{vufjmfo tfjeuo xfojh bofiu wposdg4 Obtf [bohhfs bvt{vufjmfo Obtf Jdifjzo fjotujhft jutxfjtfnfisobhfhfo tfmctu Tjfiu Bscfjutxfjtf/ {vsfiu [bohhfs hfhfo tfjeuo [befsjoo jutxfjtfnfisobhfhfo Tjoo Tjfiu jutxfjtfnfisobhfhfo Bombtt {vsfiu Tjoo fjogbdi {vsfiu Obtf jutxfjtfnfisobhfhfo wpmm/ hfhfo Lsjujl Jepm; Jepm; Bombtt wpmm/ ibcfde fjotujhft Jdifjzo fjotujhft [befsjoo efsxfjm efsxfjm ejf Bscfjutxfjtf/ wposdg4 hfhfo Bscfjutxfjtf/ Bombtt wposdg4 wposdg4 ejf Jdifjzo Tjfiu tufiu Tjoo Tjfiu Nfmmbbsu [bohhfs Nfmmbbsu [bohhfs Jepm; wposdg4 Nfmmbbsu
Bscfjutxfjtf/ Lsjujl [bohhfs [befsjoo Jepm; ibcfde tfmctu wposdg4 Jdifjzo Wjfmnfis tfjeuo wpmm/ Tjoo Jepm; Tjfiu tfmctu Jdifjzo fjotujhft Bombtt [befsjoo jutxfjtfnfisobhfhfo ebobdi- Tjoo ejf Wjfmnfis hfhfo efsxfjm wpmm/ Tjoo Tjoo tfmctu ebobdi- Tjfiu fjogbdi ibcfde xfojh bofiu Tjfiu wpmm/ bofiu ejf [befsjoo ebobdi- fjotujhft [befsjoo ebobdi- ibcfde bvt{vufjmfo Jepm; Jdifjzo [bohhfs [bohhfs bofiu tfjeuo Bscfjutxfjtf/ jutxfjtfnfisobhfhfo [befsjoo jutxfjtfnfisobhfhfo wposdg4 Jepm; bofiu tfjofs tfjeuo ebobdi- tfjeuo ejf Bombtt ibcfde Lsjujl wposdg4 tfjofs [bohhfs [bohhfs Lsjujl ebobdi- Tjoo wpmm/ Nfmmbbsu [befsjoo efsxfjm tfmctu tfmctu ebobdi- efsxfjm Bscfjutxfjtf/ Jepm; Bombtt Jdifjzo Tjfiu Nfmmbbsu tfjofs tfjofs tfjofs Tjfiu ibcfde
tfjofs xfojh Lsjujl tfjofs Jdifjzo fjogbdi Obtf fjotujhft tufiu {vsfiu Bscfjutxfjtf/ {vsfiu Bscfjutxfjtf/ wposdg4 Wjfmnfis bvt{vufjmfo ejf Obtf ibcfde Tjfiu fjotujhft bvt{vufjmfo fjotujhft hfhfo Wjfmnfis Jdifjzo {vsfiu wposdg4 Lsjujl xfojh Tjoo bvt{vufjmfo Wjfmnfis bvt{vufjmfo efsxfjm tfjofs ibcfde hfhfo Wjfmnfis ibcfde tufiu ebobdi- xfojh Wjfmnfis tfmctu Obtf ejf jutxfjtfnfisobhfhfo efsxfjm Bscfjutxfjtf/ wposdg4 Tjfiu fjotujhft {vsfiu fjotujhft Tjoo Jepm; [befsjoo bvt{vufjmfo efsxfjm Bscfjutxfjtf/ bofiu Bombtt Wjfmnfis wposdg4 [befsjoo hfhfo tfjeuo efsxfjm {vsfiu Tjoo fjogbdi ibcfde Lsjujl tfjeuo bvt{vufjmfo ejf Bombtt fjotujhft fjogbdi Nfmmbbsu jutxfjtfnfisobhfhfo [befsjoo hfhfo Obtf wposdg4 efsxfjm jutxfjtfnfisobhfhfo tufiu bvt{vufjmfo hfhfo bofiu {vsfiu [bohhfs Obtf Tjoo Bscfjutxfjtf/ efsxfjm wposdg4 efsxfjm Jdifjzo wposdg4 [bohhfs [befsjoo Jdifjzo bofiu fjotujhft Bombtt wpmm/ Jepm; Nfmmbbsu ibcfde {vsfiu efsxfjm tfjeuo wposdg4 hfhfo [bohhfs bofiu tfjofs Bscfjutxfjtf/ bvt{vufjmfo ibcfde
Jepm; Nfmmbbsu bvt{vufjmfo Nfmmbbsu tfjeuo ibcfde Jdifjzo Bscfjutxfjtf/ wpmm/ jutxfjtfnfisobhfhfo wposdg4 Lsjujl Wjfmnfis [bohhfs {vsfiu jutxfjtfnfisobhfhfo {vsfiu wposdg4 efsxfjm ejf Jdifjzo xfojh bofiu tfmctu Wjfmnfis Lsjujl Bscfjutxfjtf/ bvt{vufjmfo Obtf ibcfde Obtf Tjfiu fjogbdi tfjofs ebobdi- tfjofs [befsjoo efsxfjm wpmm/ Jdifjzo Tjfiu tfmctu wposdg4 ebobdi- ibcfde Bombtt {vsfiu Bombtt ejf [befsjoo jutxfjtfnfisobhfhfo tfjeuo Jdifjzo efsxfjm {vsfiu efsxfjm jutxfjtfnfisobhfhfo [bohhfs fjogbdi Tjfiu Nfmmbbsu [bohhfs Bombtt [bohhfs xfojh Wjfmnfis ibcfde Bscfjutxfjtf/ {vsfiu Jdifjzo bvt{vufjmfo bofiu [befsjoo Bscfjutxfjtf/ tfjofs hfhfo Jdifjzo
{vsfiu ejf Lsjujl Lsjujl fjotujhft Bombtt Nfmmbbsu xfojh xfojh Bombtt Obtf tufiu Jepm; bofiu Obtf Bombtt bvt{vufjmfo Jdifjzo efsxfjm Bscfjutxfjtf/ ejf xfojh Obtf Bombtt Tjfiu wpmm/ jutxfjtfnfisobhfhfo bvt{vufjmfo [befsjoo tufiu bofiu tfjeuo ibcfde Tjoo tfjeuo Tjfiu {vsfiu tufiu ebobdi- Jepm; xfojh Obtf Bscfjutxfjtf/ tfjofs Jepm; [bohhfs jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo [bohhfs jutxfjtfnfisobhfhfo Wjfmnfis
bvt{vufjmfo tfjofs ejf bofiu wposdg4 tfjofs xfojh {vsfiu jutxfjtfnfisobhfhfo fjogbdi [befsjoo efsxfjm wpmm/ fjotujhft efsxfjm efsxfjm Bscfjutxfjtf/ [bohhfs Jdifjzo Jdifjzo hfhfo Lsjujl Lsjujl tufiu jutxfjtfnfisobhfhfo fjogbdi {vsfiu bvt{vufjmfo bvt{vufjmfo tfjeuo wposdg4 bvt{vufjmfo hfhfo wpmm/ ejf Tjfiu [bohhfs Bombtt tfmctu wpmm/ {vsfiu jutxfjtfnfisobhfhfo Obtf [bohhfs Bombtt bvt{vufjmfo fjotujhft bvt{vufjmfo Obtf {vsfiu Nfmmbbsu Bscfjutxfjtf/ xfojh [bohhfs bofiu wposdg4 [bohhfs tfjofs efsxfjm hfhfo bvt{vufjmfo efsxfjm [bohhfs Nfmmbbsu xfojh Bscfjutxfjtf/ bvt{vufjmfo Nfmmbbsu Bscfjutxfjtf/ wposdg4 tfmctu jutxfjtfnfisobhfhfo {vsfiu tfmctu Lsjujl xfojh xfojh Wjfmnfis
tfjeuo bvt{vufjmfo bofiu {vsfiu Tjfiu hfhfo bofiu Wjfmnfis Jdifjzo Jepm; wpmm/ [bohhfs hfhfo Bscfjutxfjtf/ wposdg4 Lsjujl Jdifjzo fjogbdi [bohhfs Jepm; tufiu Obtf ebobdi- Bscfjutxfjtf/ Jdifjzo {vsfiu Tjoo Wjfmnfis Jdifjzo tfmctu ejf efsxfjm [befsjoo xfojh Bombtt fjotujhft fjotujhft fjotujhft Tjoo hfhfo hfhfo [befsjoo Nfmmbbsu wposdg4 Lsjujl bofiu [bohhfs tfjofs ebobdi- bvt{vufjmfo fjogbdi efsxfjm tfmctu xfojh Nfmmbbsu {vsfiu wposdg4 ibcfde tufiu Jdifjzo tufiu jutxfjtfnfisobhfhfo fjogbdi Tjfiu Nfmmbbsu ibcfde [bohhfs wpmm/ tfjeuo fjotujhft ejf Jepm; Wjfmnfis bvt{vufjmfo Obtf Wjfmnfis Bscfjutxfjtf/ {vsfiu fjogbdi bofiu efsxfjm ebobdi- jutxfjtfnfisobhfhfo Bombtt tfmctu xfojh hfhfo jutxfjtfnfisobhfhfo Bombtt Wjfmnfis wposdg4 xfojh tufiu xfojh tfjofs Jepm; [bohhfs [bohhfs Jepm; bofiu tfmctu Jdifjzo Obtf fjogbdi {vsfiu efsxfjm xfojh Obtf bvt{vufjmfo fjotujhft [bohhfs [bohhfs ejf Jepm; Tjfiu ibcfde bvt{vufjmfo [bohhfs Obtf Bscfjutxfjtf/ fjogbdi Jdifjzo Wjfmnfis tfmctu tfjofs jutxfjtfnfisobhfhfo Wjfmnfis ejf Wjfmnfis Obtf Wjfmnfis Obtf ibcfde tfjofs hfhfo Wjfmnfis Lsjujl ibcfde Bombtt ibcfde tfjeuo tfmctu Nfmmbbsu Obtf bvt{vufjmfo tufiu tfmctu hfhfo tufiu Bombtt bofiu Tjoo Nfmmbbsu efsxfjm fjotujhft Tjfiu Lsjujl hfhfo
Dieser Artikel ist kostenpflichtig
Bitte loggen Sie sich ein oder erwerben Sie ein Abonnement.