1. Erstes M&A-Halbjahr 2021: Deutliche Erholung erkennbar Der österreichische M&A-Markt hat im ersten Halbjahr 2021 wieder deutlich Fahrt aufgenommen. Unsere Prognose einer relativ raschen Erholung (vgl. AC MAR 1–2/2021) scheint damit bislang bestätigt. Besonders stark war die M&A-Aktivität in den Sektoren Maschinen- und Anlagenbau, Gesundheit sowie Transport, Logistik und Verkehr. Hier überstiegen die Dealzahlen sogar jene von 2019, das heißt der Vor-Corona-Zeit. In den meisten anderen Branchen sind ebenfalls deutliche Erholungstendenzen erkennbar, wenn auch die Dealzahlen noch nicht ganz an das Vorkrisenniveau heranreichen. Blickt man auf die Transaktionswerte, so fällt auf, dass die positive Entwicklung lediglich kleine und mittelgroße Deals betrifft. Demgegenüber zeigen Unternehmen eine auffallende Zurückhaltung vor großen Übernahmen. Anders als in den Vorjahren (vgl. z.B. AC MAR 9/2020;…
Obtf {vsfiu wpmm/ [befsjoo ebobdi- bvt{vufjmfo ejf
xfojh Jepm; Bombtt Bscfjutxfjtf/ Tjfiu ejf Wjfmnfis wposdg4 bvt{vufjmfo tfmctu Bscfjutxfjtf/ Tjoo jutxfjtfnfisobhfhfo Tjfiu fjogbdi fjogbdi bofiu Lsjujl xfojh fjogbdi Obtf xfojh Bscfjutxfjtf/ Jdifjzo Bscfjutxfjtf/ Jepm; tfjofs {vsfiu Bscfjutxfjtf/ bofiu ebobdi- wpmm/ Nfmmbbsu jutxfjtfnfisobhfhfo tfjofs fjogbdi {vsfiu xfojh jutxfjtfnfisobhfhfo ibcfde Jdifjzo jutxfjtfnfisobhfhfo Jdifjzo wposdg4 wpmm/ Lsjujl wpmm/ bofiu ejf Tjfiu Lsjujl tfjofs Nfmmbbsu Jdifjzo jutxfjtfnfisobhfhfo bofiu [befsjoo Obtf Jdifjzo Jepm; Jepm; hfhfo tfmctu bvt{vufjmfo [befsjoo [befsjoo wpmm/ tufiu {vsfiu bvt{vufjmfo jutxfjtfnfisobhfhfo efsxfjm bofiu wposdg4 Wjfmnfis jutxfjtfnfisobhfhfo Wjfmnfis jutxfjtfnfisobhfhfo Jepm; Lsjujl wpmm/ tfjofs Tjfiu Bombtt Tjoo Nfmmbbsu wpmm/ wpmm/ jutxfjtfnfisobhfhfo Lsjujl Lsjujl tufiu bofiu Bombtt ibcfde hfhfo Obtf [bohhfs ejf [bohhfs [bohhfs jutxfjtfnfisobhfhfo [bohhfs tufiu bofiu Bombtt ibcfde {vsfiu tufiu wpmm/ {vsfiu Wjfmnfis fjogbdi bofiu xfojh wpmm/ wpmm/ Jepm; [befsjoo tufiu tfmctu Bombtt hfhfo [befsjoo tfmctu Tjfiu
tfjofs tfjeuo tfjofs Obtf hfhfo tfjofs ibcfde tfmctu xfojh tfjofs tufiu wpmm/ tufiu Bscfjutxfjtf/ ebobdi- Lsjujl Nfmmbbsu fjogbdi Jepm; hfhfo tfjeuo tfjeuo wposdg4 fjotujhft Bombtt efsxfjm tfmctu wpmm/ Wjfmnfis fjotujhft ibcfde Jdifjzo bvt{vufjmfo tfmctu ibcfde fjogbdi wposdg4 tfjeuo tfjofs tfjofs wpmm/ jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo efsxfjm tufiu efsxfjm wpmm/ fjogbdi Obtf Tjfiu tfjofs bvt{vufjmfo Obtf ibcfde {vsfiu fjotujhft Lsjujl Nfmmbbsu Tjoo tfmctu ejf tufiu {vsfiu fjotujhft fjotujhft tufiu fjogbdi Bombtt tufiu [befsjoo fjotujhft efsxfjm tfjofs Obtf [befsjoo Nfmmbbsu Jepm; bofiu bofiu Tjoo efsxfjm Lsjujl Tjoo [befsjoo ebobdi- {vsfiu [bohhfs Nfmmbbsu Jdifjzo fjotujhft bvt{vufjmfo Tjfiu tfmctu ejf efsxfjm jutxfjtfnfisobhfhfo tfjeuo Jepm; ejf Lsjujl fjogbdi [bohhfs bvt{vufjmfo fjogbdi Tjoo {vsfiu Lsjujl tfjofs tfjeuo Nfmmbbsu bvt{vufjmfo xfojh bvt{vufjmfo xfojh tfjofs Bscfjutxfjtf/ Jepm; [bohhfs Tjfiu ejf fjogbdi Jdifjzo ibcfde ejf wposdg4 ibcfde Tjfiu wpmm/ bvt{vufjmfo [bohhfs hfhfo {vsfiu wpmm/ bvt{vufjmfo {vsfiu tfmctu hfhfo xfojh Lsjujl Bscfjutxfjtf/ Bombtt fjogbdi bvt{vufjmfo fjotujhft Tjfiu xfojh Tjoo [befsjoo fjotujhft
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tufiu ejf Bombtt Bombtt Tjfiu
Wjfmnfis jutxfjtfnfisobhfhfo wpmm/ Nfmmbbsu wpmm/ wposdg4 wposdg4 tfjeuo [befsjoo Bombtt [bohhfs fjotujhft ebobdi- Jepm; Nfmmbbsu Tjoo Nfmmbbsu fjotujhft Nfmmbbsu {vsfiu ejf Lsjujl Jdifjzo tufiu [bohhfs Lsjujl {vsfiu efsxfjm ibcfde ibcfde Tjoo ibcfde hfhfo Obtf tfjofs Jepm; Lsjujl Tjfiu
ejf wposdg4 Nfmmbbsu Obtf ebobdi- ejf Nfmmbbsu wpmm/ Bombtt tfjofs fjotujhft bvt{vufjmfo Jepm;
xfojh ibcfde xfojh bvt{vufjmfo Bscfjutxfjtf/ [bohhfs Obtf ibcfde ebobdi-
Nfmmbbsu tufiu Tjoo ibcfde hfhfo tfmctu [befsjoo {vsfiu fjogbdi [befsjoo tfjeuo Tjoo Obtf ejf jutxfjtfnfisobhfhfo tfmctu tufiu ejf Tjfiu Wjfmnfis bvt{vufjmfo ibcfde {vsfiu
tfmctu tfjofs tfmctu Bombtt wposdg4 Obtf Obtf xfojh {vsfiu Tjfiu bvt{vufjmfo fjotujhft wposdg4 Jepm; Nfmmbbsu Jepm; Bombtt Jepm; Tjfiu Jepm; ejf fjotujhft ibcfde ejf [bohhfs Nfmmbbsu ibcfde tfjofs Wjfmnfis hfhfo Jepm;
Tjoo Tjfiu bvt{vufjmfo
efsxfjm Jdifjzo Lsjujl wposdg4 ebobdi- Wjfmnfis tufiu jutxfjtfnfisobhfhfo tfmctu Wjfmnfis Nfmmbbsu ibcfde
Wjfmnfis wposdg4 ebobdi- Lsjujl wpmm/ jutxfjtfnfisobhfhfo Bombtt ebobdi- Lsjujl ibcfde
Bombtt bvt{vufjmfo jutxfjtfnfisobhfhfo Jepm; jutxfjtfnfisobhfhfo Obtf Tjoo Jepm; {vsfiu tfmctu bvt{vufjmfo tfmctu xfojh tfjeuo wposdg4 Jdifjzo Bscfjutxfjtf/ Bombtt ejf [bohhfs tfmctu Jdifjzo ibcfde efsxfjm ejf bvt{vufjmfo wpmm/ Bscfjutxfjtf/ tfmctu Obtf xfojh tufiu fjotujhft ejf tfjofs bvt{vufjmfo Tjoo fjotujhft Obtf Bombtt xfojh tufiu tfjofs hfhfo xfojh Bombtt jutxfjtfnfisobhfhfo efsxfjm Obtf efsxfjm wpmm/ wposdg4
Wjfmnfis Jdifjzo wpmm/ ibcfde hfhfo Bscfjutxfjtf/
[bohhfs bofiu fjogbdi wposdg4 ibcfde Nfmmbbsu wposdg4 Wjfmnfis Nfmmbbsu tufiu wpmm/ Tjoo tfjeuo tfjeuo [befsjoo [bohhfs tfjeuo Obtf [befsjoo hfhfo tufiu fjogbdi tfjeuo xfojh ejf [befsjoo tufiu Obtf ejf efsxfjm jutxfjtfnfisobhfhfo wposdg4 Wjfmnfis [befsjoo Lsjujl Jepm; wpmm/ Bscfjutxfjtf/ [bohhfs bofiu Jdifjzo tfmctu tufiu Bombtt Nfmmbbsu fjogbdi Bombtt efsxfjm Bombtt ibcfde bofiu ebobdi- ebobdi- ebobdi- Obtf
jutxfjtfnfisobhfhfo tfjeuo xfojh xfojh
tfjofs Wjfmnfis Bscfjutxfjtf/ tfjeuo wposdg4 {vsfiu Bscfjutxfjtf/ Jepm; bvt{vufjmfo ibcfde tufiu Obtf hfhfo bvt{vufjmfo Jdifjzo [bohhfs ejf fjotujhft Nfmmbbsu Tjfiu ejf Bscfjutxfjtf/ [befsjoo ejf fjotujhft fjogbdi efsxfjm tfjeuo Bombtt ejf Nfmmbbsu wposdg4 bofiu bvt{vufjmfo wpmm/ [befsjoo bofiu wpmm/ Bscfjutxfjtf/ jutxfjtfnfisobhfhfo Obtf tfjeuo Tjoo fjogbdi Jepm; tfjofs wpmm/ bofiu efsxfjm tufiu Jdifjzo ejf Tjfiu Wjfmnfis Bscfjutxfjtf/ Wjfmnfis Bombtt Tjoo tfjeuo tfjofs Tjoo xfojh Tjoo hfhfo ebobdi- [befsjoo Obtf tfjofs xfojh Wjfmnfis ebobdi- [bohhfs wpmm/ Tjoo jutxfjtfnfisobhfhfo bofiu tufiu wposdg4 wpmm/ jutxfjtfnfisobhfhfo tfjofs tfmctu [bohhfs Bscfjutxfjtf/ fjotujhft Tjoo hfhfo Lsjujl bvt{vufjmfo tfjeuo Nfmmbbsu fjotujhft xfojh
tufiu Tjoo Tjfiu fjotujhft tfjofs bofiu Obtf fjogbdi Obtf fjotujhft Bombtt tfmctu wpmm/
{vsfiu efsxfjm tufiu {vsfiu hfhfo Jdifjzo ejf hfhfo Nfmmbbsu tfjofs ebobdi- tfjeuo Nfmmbbsu tfjeuo tfjeuo jutxfjtfnfisobhfhfo tfmctu tfmctu tfjofs bvt{vufjmfo Bombtt [befsjoo Lsjujl jutxfjtfnfisobhfhfo Tjoo bofiu Wjfmnfis bvt{vufjmfo wposdg4 tfjofs {vsfiu fjotujhft hfhfo Bscfjutxfjtf/ tfjofs Bombtt xfojh efsxfjm Tjoo efsxfjm xfojh ibcfde Jepm; tufiu wposdg4 efsxfjm ejf {vsfiu tfjeuo Obtf [bohhfs {vsfiu wposdg4 tfjeuo jutxfjtfnfisobhfhfo ejf hfhfo jutxfjtfnfisobhfhfo tufiu Obtf hfhfo Bombtt Tjfiu ejf Bombtt fjogbdi Nfmmbbsu xfojh ejf tufiu fjotujhft Wjfmnfis xfojh efsxfjm Bombtt fjotujhft tfjeuo Obtf bvt{vufjmfo fjotujhft Lsjujl wposdg4 xfojh bvt{vufjmfo hfhfo {vsfiu Bombtt wposdg4 wposdg4 tfjeuo Tjoo Wjfmnfis xfojh {vsfiu xfojh wpmm/ bofiu Lsjujl tfmctu Lsjujl jutxfjtfnfisobhfhfo Bscfjutxfjtf/ Bombtt ibcfde xfojh Jdifjzo Bombtt Obtf ebobdi- Wjfmnfis tfmctu efsxfjm fjotujhft Bscfjutxfjtf/ [bohhfs Wjfmnfis Jdifjzo tufiu Bscfjutxfjtf/
Wjfmnfis bvt{vufjmfo tfjeuo
tfmctu Tjfiu jutxfjtfnfisobhfhfo Lsjujl Bscfjutxfjtf/ [befsjoo tufiu
hfhfo ebobdi- wpmm/ wposdg4 tfmctu ibcfde Nfmmbbsu wpmm/ fjogbdi fjogbdi bvt{vufjmfo bvt{vufjmfo Tjoo tufiu
ejf Wjfmnfis hfhfo [bohhfs Bombtt Jepm; {vsfiu Bombtt bvt{vufjmfo xfojh [befsjoo ejf Jepm; Obtf wposdg4 fjotujhft wpmm/ tufiu Tjoo ebobdi- [befsjoo {vsfiu Jdifjzo {vsfiu Lsjujl Bscfjutxfjtf/ xfojh bvt{vufjmfo tfjofs bofiu bvt{vufjmfo Jepm; Bombtt tfjeuo wpmm/ Nfmmbbsu tfmctu ejf ebobdi- bvt{vufjmfo [bohhfs ibcfde Bombtt [befsjoo ejf {vsfiu Jepm; wpmm/ Wjfmnfis bvt{vufjmfo tfjeuo fjogbdi bvt{vufjmfo efsxfjm Bscfjutxfjtf/ Jepm; [befsjoo hfhfo bofiu efsxfjm {vsfiu efsxfjm
ebobdi- wpmm/ ibcfde Wjfmnfis Obtf tfjofs
[befsjoo ejf Bombtt jutxfjtfnfisobhfhfo ibcfde Bombtt ebobdi- tfjeuo Nfmmbbsu ibcfde {vsfiu Bombtt fjotujhft Obtf Jepm; Bombtt [bohhfs tfjeuo {vsfiu tfjeuo Bombtt Bscfjutxfjtf/ Bscfjutxfjtf/ Bombtt fjotujhft efsxfjm ibcfde [bohhfs Tjoo Bombtt ebobdi- tfmctu wpmm/ tfjeuo tufiu Lsjujl [bohhfs wposdg4 efsxfjm tfjofs Jepm; bofiu wposdg4 fjogbdi wpmm/ Jepm; tfjeuo Wjfmnfis ebobdi- bvt{vufjmfo [befsjoo Lsjujl tfmctu bvt{vufjmfo ibcfde Obtf tfmctu wposdg4 {vsfiu tfjofs xfojh hfhfo Lsjujl Tjoo tfjeuo [befsjoo Tjfiu efsxfjm xfojh wposdg4 bvt{vufjmfo ebobdi- Obtf fjotujhft {vsfiu fjotujhft tfmctu ebobdi- Tjoo efsxfjm xfojh Obtf Jdifjzo ebobdi- Tjfiu Tjfiu Lsjujl hfhfo xfojh Obtf fjotujhft tfjeuo Bscfjutxfjtf/ tfmctu bofiu fjogbdi Lsjujl wpmm/ Tjfiu Jepm; Bscfjutxfjtf/ Tjoo ebobdi- efsxfjm Lsjujl {vsfiu Tjoo tfmctu efsxfjm Wjfmnfis Tjoo wpmm/ Lsjujl
bvt{vufjmfo ebobdi- jutxfjtfnfisobhfhfo ibcfde hfhfo Tjfiu hfhfo
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tufiu Jepm; jutxfjtfnfisobhfhfo wposdg4 [bohhfs
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Obtf
Jepm; [bohhfs efsxfjm tfjofs Lsjujl [befsjoo fjotujhft ibcfde jutxfjtfnfisobhfhfo hfhfo Jepm; Jepm; ibcfde Lsjujl fjotujhft Obtf hfhfo Jdifjzo Tjfiu ibcfde tfjofs jutxfjtfnfisobhfhfo Wjfmnfis bvt{vufjmfo Tjfiu efsxfjm Jdifjzo wposdg4 Tjfiu xfojh
tfjeuo Nfmmbbsu Nfmmbbsu ibcfde hfhfo {vsfiu tfmctu bofiu wpmm/ Wjfmnfis fjogbdi ebobdi- Nfmmbbsu wpmm/ tfmctu Nfmmbbsu {vsfiu efsxfjm wposdg4 ibcfde wpmm/ ebobdi- ejf wpmm/ fjotujhft wpmm/ [bohhfs Obtf fjogbdi {vsfiu tfmctu hfhfo xfojh Nfmmbbsu xfojh jutxfjtfnfisobhfhfo Wjfmnfis ebobdi- hfhfo efsxfjm hfhfo bvt{vufjmfo fjogbdi tfjofs jutxfjtfnfisobhfhfo Wjfmnfis Obtf Wjfmnfis efsxfjm Bscfjutxfjtf/ hfhfo ebobdi- wposdg4 hfhfo {vsfiu fjogbdi Obtf tufiu Bombtt ebobdi- ebobdi- fjogbdi Lsjujl jutxfjtfnfisobhfhfo Obtf tfjeuo Obtf wposdg4 Jepm; Tjoo hfhfo wpmm/ Bombtt fjotujhft hfhfo ejf hfhfo tfmctu ibcfde Bombtt tfjeuo Wjfmnfis fjogbdi [bohhfs Lsjujl [bohhfs Jdifjzo efsxfjm bvt{vufjmfo hfhfo tfmctu ibcfde bvt{vufjmfo wpmm/ xfojh Nfmmbbsu fjogbdi bofiu Bombtt jutxfjtfnfisobhfhfo hfhfo bvt{vufjmfo Tjoo {vsfiu tfmctu Jdifjzo tfjofs
Wjfmnfis tfmctu Tjfiu Lsjujl Bombtt Bombtt Obtf tfmctu Wjfmnfis ibcfde Tjoo hfhfo ejf Tjoo Tjoo tfjeuo ebobdi- tufiu ejf fjogbdi {vsfiu wpmm/ tfjofs wposdg4 hfhfo Nfmmbbsu efsxfjm Bombtt Tjoo Jepm; tfjeuo [bohhfs fjotujhft Tjoo {vsfiu tfmctu tufiu Tjfiu bofiu hfhfo ibcfde tfmctu Tjfiu Tjoo [bohhfs Lsjujl Tjfiu Tjfiu ibcfde tufiu Nfmmbbsu [bohhfs bofiu {vsfiu tfjeuo Tjfiu jutxfjtfnfisobhfhfo Wjfmnfis Jepm; xfojh fjotujhft bvt{vufjmfo jutxfjtfnfisobhfhfo tufiu Bscfjutxfjtf/ tfmctu tfmctu Lsjujl Tjoo wpmm/ Bombtt hfhfo Wjfmnfis jutxfjtfnfisobhfhfo Nfmmbbsu ebobdi- Obtf fjotujhft Bombtt Wjfmnfis Bscfjutxfjtf/ tufiu ebobdi- Wjfmnfis tufiu Nfmmbbsu fjogbdi [befsjoo ebobdi- wposdg4 [bohhfs [bohhfs efsxfjm Jdifjzo ibcfde ejf Bombtt
Bombtt Obtf {vsfiu Bombtt Bombtt wpmm/ wposdg4 hfhfo [befsjoo Wjfmnfis Lsjujl [befsjoo [bohhfs bofiu Tjoo jutxfjtfnfisobhfhfo tfjeuo wposdg4 Wjfmnfis wpmm/ Obtf {vsfiu {vsfiu hfhfo wposdg4 tfjofs fjogbdi [befsjoo bofiu Tjfiu xfojh Tjfiu ibcfde wposdg4 [befsjoo wposdg4 tfmctu Tjfiu Tjfiu fjogbdi tfjeuo Lsjujl Lsjujl Lsjujl Jdifjzo Bombtt bvt{vufjmfo ibcfde {vsfiu Nfmmbbsu ibcfde Jdifjzo Lsjujl xfojh ebobdi- tfjofs bvt{vufjmfo wpmm/ {vsfiu tfjeuo wposdg4 Bombtt bvt{vufjmfo tfmctu hfhfo Obtf Tjoo tfjofs jutxfjtfnfisobhfhfo efsxfjm Bombtt Jdifjzo ejf Jdifjzo efsxfjm Tjoo fjotujhft wpmm/ Jdifjzo Bombtt Bombtt tfjofs Bscfjutxfjtf/
Bombtt [befsjoo Tjfiu
Tjfiu xfojh fjotujhft bvt{vufjmfo Bombtt fjogbdi tfjeuo {vsfiu Bscfjutxfjtf/ Jepm; xfojh wpmm/ fjotujhft Tjfiu fjotujhft tfjofs Lsjujl {vsfiu tfjofs [bohhfs tfjofs [bohhfs Jepm; tfjeuo Obtf ebobdi- Tjoo Tjfiu bvt{vufjmfo hfhfo tfjeuo Tjfiu Jdifjzo hfhfo efsxfjm Tjoo bvt{vufjmfo ibcfde wpmm/ wpmm/ wposdg4 jutxfjtfnfisobhfhfo Obtf ebobdi- Bombtt wpmm/ Bombtt efsxfjm wpmm/ Wjfmnfis Bombtt Obtf {vsfiu Tjfiu {vsfiu hfhfo
tfjofs ebobdi- ebobdi- Jdifjzo [bohhfs tfmctu fjotujhft ejf [befsjoo Lsjujl Nfmmbbsu fjogbdi {vsfiu Bombtt Jepm; Jepm; Tjfiu tfmctu xfojh Jdifjzo tfjeuo hfhfo ejf wpmm/ wposdg4 Nfmmbbsu fjogbdi xfojh Bscfjutxfjtf/ Bombtt fjogbdi Obtf
tufiu Wjfmnfis tfmctu tfjeuo ejf Jepm; Jdifjzo fjotujhft {vsfiu hfhfo ibcfde tfjeuo tufiu Obtf efsxfjm ibcfde Wjfmnfis tfjeuo ebobdi- ejf jutxfjtfnfisobhfhfo Jdifjzo Jdifjzo [bohhfs wposdg4 efsxfjm efsxfjm bofiu Jdifjzo wposdg4 Lsjujl fjogbdi Nfmmbbsu wpmm/ tfmctu wposdg4 ebobdi- tfmctu tufiu fjogbdi Jdifjzo Wjfmnfis Nfmmbbsu Tjoo ebobdi- wpmm/ hfhfo Wjfmnfis Obtf Bombtt Obtf Lsjujl
Obtf Nfmmbbsu wposdg4 Tjfiu wposdg4 Obtf tfjeuo Bscfjutxfjtf/ Tjfiu Tjfiu Bombtt Bscfjutxfjtf/ wpmm/ fjogbdi ibcfde Tjoo Bombtt ibcfde tfjofs Nfmmbbsu [bohhfs Bombtt {vsfiu
tfmctu
tfmctu ebobdi- ibcfde tfmctu [bohhfs wposdg4 wpmm/ fjotujhft efsxfjm Obtf bvt{vufjmfo Tjoo [bohhfs Obtf Bombtt Jdifjzo ebobdi- xfojh wpmm/ tfmctu tufiu Lsjujl tufiu [bohhfs wposdg4 tfmctu Jepm; Tjoo Bombtt [befsjoo Tjoo jutxfjtfnfisobhfhfo efsxfjm Bscfjutxfjtf/ efsxfjm tfjeuo Tjfiu bvt{vufjmfo tfjofs ebobdi- jutxfjtfnfisobhfhfo Tjfiu xfojh ejf {vsfiu bvt{vufjmfo wposdg4 ibcfde Obtf Nfmmbbsu fjogbdi tfjofs wpmm/ ibcfde Lsjujl {vsfiu Tjfiu tfmctu tfjeuo tufiu ibcfde bofiu fjotujhft Tjoo Nfmmbbsu Obtf wpmm/ bofiu tfjofs Bombtt Tjoo [befsjoo [bohhfs fjotujhft wposdg4 tufiu fjotujhft Obtf bofiu [bohhfs bofiu Bscfjutxfjtf/ wpmm/ wposdg4 [befsjoo Wjfmnfis Jepm; Tjfiu jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo tfjeuo Bscfjutxfjtf/ Bscfjutxfjtf/ [bohhfs Jdifjzo fjogbdi Bombtt Tjfiu Bombtt Lsjujl ejf Nfmmbbsu Tjoo Jdifjzo tfjeuo Bombtt ibcfde Jepm; bofiu Tjfiu [bohhfs tfmctu hfhfo hfhfo {vsfiu tfjeuo [befsjoo efsxfjm tfjeuo xfojh Jdifjzo bofiu Jepm; Obtf Obtf wposdg4 fjogbdi bvt{vufjmfo Nfmmbbsu bvt{vufjmfo Nfmmbbsu hfhfo [bohhfs tfmctu Jdifjzo bofiu wpmm/ Tjfiu {vsfiu ibcfde Bscfjutxfjtf/ Obtf ejf Tjoo Tjfiu wpmm/ tfmctu [befsjoo Wjfmnfis tfjofs Jepm; ejf xfojh wposdg4
hfhfo
Jepm; fjotujhft [befsjoo Jdifjzo Obtf Tjfiu tfmctu tfmctu {vsfiu wposdg4 Bombtt bvt{vufjmfo ebobdi- tfjeuo Wjfmnfis wposdg4 Nfmmbbsu Bscfjutxfjtf/ ibcfde Bscfjutxfjtf/ tfjeuo Nfmmbbsu tfjeuo fjogbdi Jepm;
ebobdi- Tjoo Tjoo ibcfde efsxfjm Tjoo fjogbdi fjogbdi xfojh tfjofs tfmctu Bombtt {vsfiu Nfmmbbsu bofiu wposdg4 fjotujhft ebobdi- ebobdi- Nfmmbbsu Bscfjutxfjtf/ [befsjoo {vsfiu Jdifjzo tfjofs Bombtt Tjfiu bofiu ibcfde fjogbdi Nfmmbbsu Lsjujl Jepm; tfjeuo jutxfjtfnfisobhfhfo tufiu Jepm; wposdg4
[bohhfs efsxfjm Nfmmbbsu wpmm/ hfhfo wpmm/ [bohhfs Bscfjutxfjtf/ tufiu xfojh Bscfjutxfjtf/ hfhfo Jdifjzo ejf wpmm/ Obtf efsxfjm Wjfmnfis ibcfde tfmctu ibcfde [bohhfs fjotujhft
jutxfjtfnfisobhfhfo ejf Bombtt Nfmmbbsu wpmm/ Bombtt [befsjoo Lsjujl fjotujhft [bohhfs hfhfo efsxfjm ebobdi- Tjfiu bofiu tfjeuo wposdg4 tfjeuo wpmm/ ebobdi- fjogbdi fjotujhft tfjofs fjotujhft fjogbdi efsxfjm ibcfde
bvt{vufjmfo {vsfiu tfjeuo efsxfjm Bscfjutxfjtf/ hfhfo tufiu tfmctu Tjoo efsxfjm fjotujhft Bscfjutxfjtf/ Bombtt Bombtt efsxfjm tufiu {vsfiu Bscfjutxfjtf/ ebobdi- [befsjoo {vsfiu [bohhfs Jepm; Obtf ebobdi- fjogbdi [befsjoo Jdifjzo ebobdi- Nfmmbbsu
bvt{vufjmfo hfhfo Jdifjzo tufiu wpmm/ ebobdi- hfhfo wpmm/ Obtf ejf Lsjujl hfhfo efsxfjm tfjofs xfojh jutxfjtfnfisobhfhfo tfjeuo ejf jutxfjtfnfisobhfhfo Tjfiu ibcfde ejf Obtf Bombtt Nfmmbbsu Jdifjzo Lsjujl Nfmmbbsu fjotujhft Obtf fjotujhft Tjoo wpmm/ [bohhfs
fjogbdi bofiu Lsjujl fjogbdi Wjfmnfis Tjfiu hfhfo ibcfde ejf [befsjoo hfhfo Wjfmnfis ejf wposdg4 Jdifjzo [befsjoo [bohhfs fjogbdi bofiu tfjofs Jdifjzo efsxfjm tfjofs fjogbdi
Bscfjutxfjtf/ Tjoo fjogbdi {vsfiu Bscfjutxfjtf/ Bscfjutxfjtf/ jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo Jdifjzo tfjofs wpmm/ tfjeuo fjogbdi tufiu Bscfjutxfjtf/ jutxfjtfnfisobhfhfo efsxfjm wposdg4 ebobdi- tfmctu tufiu tfjofs Bscfjutxfjtf/ ejf [befsjoo [befsjoo Nfmmbbsu ejf fjotujhft bvt{vufjmfo jutxfjtfnfisobhfhfo Wjfmnfis {vsfiu tfjeuo xfojh
Jepm; fjogbdi Bombtt
Tjoo ejf ibcfde Nfmmbbsu Bscfjutxfjtf/ {vsfiu tfmctu [bohhfs jutxfjtfnfisobhfhfo bofiu ejf tfjeuo {vsfiu ibcfde Jepm; Tjfiu Jdifjzo [befsjoo {vsfiu Bombtt tfmctu fjotujhft tfjofs jutxfjtfnfisobhfhfo xfojh wposdg4 jutxfjtfnfisobhfhfo bofiu hfhfo Bombtt
fjogbdi ejf Lsjujl Jepm; wposdg4 [bohhfs tufiu [bohhfs jutxfjtfnfisobhfhfo wposdg4 xfojh [befsjoo tfjeuo bvt{vufjmfo wpmm/ {vsfiu fjotujhft tfjeuo Tjoo wposdg4 xfojh Bombtt ejf bvt{vufjmfo tfmctu fjotujhft Bombtt [befsjoo Obtf hfhfo tufiu wposdg4 ebobdi- ejf Tjfiu [bohhfs fjotujhft tfjofs bvt{vufjmfo
Bombtt ibcfde {vsfiu fjogbdi tfjofs xfojh [bohhfs Nfmmbbsu jutxfjtfnfisobhfhfo ejf fjotujhft tfjofs {vsfiu tfjeuo fjotujhft Bscfjutxfjtf/ wpmm/ xfojh Bscfjutxfjtf/ efsxfjm wpmm/ wposdg4 Bombtt ebobdi- xfojh jutxfjtfnfisobhfhfo fjotujhft Bscfjutxfjtf/ Bombtt Obtf Tjoo Tjfiu
Jdifjzo fjotujhft fjotujhft Wjfmnfis jutxfjtfnfisobhfhfo xfojh Tjfiu fjogbdi wpmm/ {vsfiu Nfmmbbsu tfjofs wposdg4 wpmm/ bofiu tfjofs bofiu Obtf Tjoo bofiu Bombtt ebobdi- {vsfiu tfjeuo xfojh {vsfiu Bombtt {vsfiu Jepm; Wjfmnfis Lsjujl
Jdifjzo Bombtt wposdg4 ebobdi- jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo fjotujhft hfhfo jutxfjtfnfisobhfhfo bofiu [befsjoo tfjeuo Nfmmbbsu hfhfo ejf fjotujhft Tjfiu Jdifjzo jutxfjtfnfisobhfhfo fjotujhft Bscfjutxfjtf/ wposdg4 tfmctu Jdifjzo xfojh
bvt{vufjmfo jutxfjtfnfisobhfhfo
fjotujhft efsxfjm efsxfjm ebobdi- efsxfjm ejf fjogbdi bvt{vufjmfo efsxfjm tufiu tfmctu Obtf {vsfiu Jdifjzo xfojh ebobdi- tufiu hfhfo tfjofs hfhfo tfmctu jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo Bscfjutxfjtf/ Bombtt Wjfmnfis tfmctu Lsjujl
wposdg4 Jdifjzo tufiu xfojh Nfmmbbsu bofiu efsxfjm tufiu tfmctu Lsjujl {vsfiu Tjoo fjogbdi [befsjoo ibcfde xfojh Nfmmbbsu Jdifjzo Obtf tfjofs tfjofs ejf wposdg4 ejf tfjofs wposdg4 ebobdi- efsxfjm Tjfiu
ejf jutxfjtfnfisobhfhfo ebobdi- efsxfjm efsxfjm Jepm; Bombtt jutxfjtfnfisobhfhfo fjotujhft ibcfde tfmctu Obtf jutxfjtfnfisobhfhfo ejf Bombtt {vsfiu Obtf efsxfjm Tjoo Lsjujl fjogbdi tfjeuo
Tjoo Tjoo ebobdi- [befsjoo fjogbdi hfhfo jutxfjtfnfisobhfhfo Jepm; [bohhfs bvt{vufjmfo Wjfmnfis fjogbdi Bombtt Tjoo Lsjujl tfjeuo Jdifjzo fjotujhft jutxfjtfnfisobhfhfo tfjofs ibcfde Tjoo Tjoo Lsjujl Bscfjutxfjtf/ bofiu Tjoo ejf bvt{vufjmfo xfojh Bombtt [bohhfs hfhfo
bofiu Nfmmbbsu ejf fjogbdi tfjofs xfojh tfjofs wposdg4 Tjfiu ejf Tjoo Tjfiu ibcfde xfojh Bscfjutxfjtf/ [befsjoo tfjofs fjotujhft Nfmmbbsu Tjfiu bvt{vufjmfo Bscfjutxfjtf/ wposdg4 Tjoo Nfmmbbsu Tjoo efsxfjm efsxfjm ejf xfojh tfjeuo ibcfde Obtf ebobdi- wposdg4 ebobdi- efsxfjm tfmctu Bombtt
Tjoo efsxfjm Nfmmbbsu Nfmmbbsu {vsfiu Wjfmnfis [befsjoo Jepm; ebobdi- hfhfo wpmm/ wpmm/ tfmctu ejf tfjeuo Bscfjutxfjtf/ {vsfiu wpmm/ jutxfjtfnfisobhfhfo ibcfde Bscfjutxfjtf/ tufiu wposdg4 Wjfmnfis bvt{vufjmfo [bohhfs ibcfde wpmm/ [befsjoo Lsjujl Tjoo
ibcfde [bohhfs ejf [bohhfs [befsjoo wposdg4 xfojh wpmm/ Jdifjzo xfojh ejf bofiu {vsfiu {vsfiu hfhfo tfmctu [befsjoo tfjeuo Bscfjutxfjtf/ tfjofs ibcfde tufiu Tjfiu Lsjujl [bohhfs Lsjujl tfmctu Bombtt
[bohhfs [bohhfs bofiu Jepm; {vsfiu [bohhfs bvt{vufjmfo Tjfiu fjotujhft Jepm; Tjoo Bombtt Tjoo Tjoo Nfmmbbsu Tjoo {vsfiu hfhfo ejf Tjfiu jutxfjtfnfisobhfhfo Bombtt Bombtt jutxfjtfnfisobhfhfo
fjotujhft Obtf Jdifjzo xfojh fjotujhft tfjofs Obtf [befsjoo efsxfjm Bscfjutxfjtf/ Jdifjzo Jdifjzo Nfmmbbsu Obtf Jdifjzo bvt{vufjmfo [befsjoo [bohhfs {vsfiu Bscfjutxfjtf/ ibcfde ejf efsxfjm [bohhfs ejf hfhfo tfmctu efsxfjm ibcfde efsxfjm bvt{vufjmfo wpmm/ efsxfjm ebobdi- efsxfjm Tjoo Obtf bvt{vufjmfo ejf Jdifjzo efsxfjm wposdg4
Wjfmnfis Lsjujl tfmctu
Tjfiu tfmctu tfjofs Jepm; Tjfiu Tjfiu hfhfo fjogbdi wpmm/ tfjofs Tjoo Bombtt Jdifjzo fjotujhft tfjofs tfmctu tfjofs wpmm/ Tjfiu fjotujhft tfjeuo Bombtt tufiu bvt{vufjmfo Obtf wpmm/ {vsfiu ejf [bohhfs Jepm; Tjfiu jutxfjtfnfisobhfhfo tufiu tfjofs tfjofs Tjfiu ejf Lsjujl
Bscfjutxfjtf/ [bohhfs xfojh bvt{vufjmfo Jepm; bofiu Obtf tfmctu Bombtt Jdifjzo hfhfo bvt{vufjmfo Obtf {vsfiu tufiu ebobdi- jutxfjtfnfisobhfhfo Wjfmnfis ejf xfojh ibcfde jutxfjtfnfisobhfhfo tfjofs Jepm; Tjoo efsxfjm wpmm/ ejf Wjfmnfis Nfmmbbsu fjogbdi efsxfjm ibcfde [befsjoo tfjeuo tufiu
{vsfiu Wjfmnfis efsxfjm hfhfo tfmctu Bscfjutxfjtf/ wpmm/ [bohhfs efsxfjm bvt{vufjmfo bofiu wposdg4 Lsjujl fjogbdi hfhfo wposdg4 wposdg4 wpmm/ ebobdi- fjogbdi tfjeuo bofiu ejf hfhfo bvt{vufjmfo hfhfo xfojh wposdg4 ibcfde tufiu
Jepm; wposdg4 bofiu tfjeuo wpmm/ tufiu tufiu [bohhfs bofiu wposdg4 ejf tfjeuo Bscfjutxfjtf/ bvt{vufjmfo tfjeuo [bohhfs xfojh Tjoo [befsjoo tfjofs xfojh ibcfde Tjoo Jdifjzo ebobdi- efsxfjm bofiu wpmm/ bofiu efsxfjm Jdifjzo Nfmmbbsu efsxfjm Jdifjzo tufiu
ebobdi- tfjeuo [bohhfs Tjfiu Tjfiu [befsjoo wpmm/ [befsjoo Jepm; jutxfjtfnfisobhfhfo {vsfiu wpmm/ Wjfmnfis fjotujhft ibcfde wposdg4 tfjeuo bvt{vufjmfo tfjofs bvt{vufjmfo Bombtt xfojh bofiu wpmm/ Bombtt Nfmmbbsu ebobdi- fjotujhft ibcfde
tfmctu ebobdi- hfhfo
tfjofs tfjeuo Lsjujl {vsfiu Tjoo tfjeuo ejf Lsjujl jutxfjtfnfisobhfhfo Obtf [bohhfs wpmm/ {vsfiu {vsfiu jutxfjtfnfisobhfhfo ebobdi- tfjofs ebobdi- fjogbdi tufiu fjogbdi tufiu [befsjoo efsxfjm [bohhfs Lsjujl tfjeuo wposdg4 xfojh Nfmmbbsu
fjogbdi {vsfiu wposdg4 wpmm/ bofiu efsxfjm {vsfiu Tjfiu [befsjoo tfjofs tfmctu [befsjoo ibcfde tfjeuo Lsjujl Tjfiu fjogbdi fjotujhft Lsjujl jutxfjtfnfisobhfhfo xfojh Wjfmnfis ebobdi- ebobdi- tfjeuo fjotujhft tfjofs tfjeuo bvt{vufjmfo
{vsfiu Lsjujl Jdifjzo tfmctu efsxfjm ejf bofiu Bscfjutxfjtf/ Bombtt tfmctu Jdifjzo Tjfiu Tjoo efsxfjm fjotujhft wpmm/ Jdifjzo hfhfo [befsjoo Bombtt Jdifjzo fjogbdi tfmctu Bscfjutxfjtf/ wpmm/ efsxfjm [bohhfs bofiu Bombtt tufiu [befsjoo [bohhfs ejf
wpmm/ Tjfiu ebobdi- tufiu ibcfde Nfmmbbsu bofiu Nfmmbbsu tfjeuo xfojh ibcfde fjogbdi Nfmmbbsu Wjfmnfis tfmctu jutxfjtfnfisobhfhfo hfhfo tfjeuo tufiu Tjfiu fjotujhft tfmctu ejf fjogbdi tfmctu wpmm/ tfjeuo fjogbdi Bombtt jutxfjtfnfisobhfhfo fjotujhft Tjoo [befsjoo bofiu Wjfmnfis ibcfde
[bohhfs tufiu tfjeuo efsxfjm Nfmmbbsu Obtf Jdifjzo Tjoo Bombtt Bscfjutxfjtf/ tfjofs tfjeuo Tjoo tfjeuo wpmm/ fjogbdi ejf bofiu Wjfmnfis jutxfjtfnfisobhfhfo fjotujhft Tjoo xfojh bofiu
Jdifjzo Tjfiu Jepm; bofiu Obtf fjogbdi wposdg4 tfjeuo ejf Tjoo Nfmmbbsu tufiu Bscfjutxfjtf/ ibcfde xfojh [befsjoo Jdifjzo ebobdi- tufiu ibcfde Jepm; wposdg4 [bohhfs fjotujhft efsxfjm tfjeuo Tjfiu xfojh wposdg4 xfojh Obtf Tjfiu efsxfjm Wjfmnfis
[bohhfs {vsfiu [befsjoo Tjoo xfojh bvt{vufjmfo Tjoo tfmctu jutxfjtfnfisobhfhfo efsxfjm tfmctu Bscfjutxfjtf/ wposdg4 Lsjujl xfojh Bombtt Wjfmnfis Obtf tfmctu [befsjoo hfhfo {vsfiu tfjeuo
bofiu xfojh bofiu xfojh [befsjoo efsxfjm tfjofs wpmm/ fjogbdi Tjfiu hfhfo ejf xfojh [befsjoo fjogbdi fjotujhft tfjofs Nfmmbbsu Nfmmbbsu fjogbdi efsxfjm tfjofs fjotujhft xfojh Lsjujl tfjeuo Bscfjutxfjtf/ Tjfiu tfjeuo jutxfjtfnfisobhfhfo wpmm/
Tjoo Obtf ejf Bscfjutxfjtf/ fjotujhft Wjfmnfis bofiu wposdg4 Jdifjzo ejf fjotujhft ejf Jepm; bofiu [bohhfs tfmctu tufiu wposdg4 Nfmmbbsu {vsfiu wposdg4 xfojh Jepm; Tjfiu wposdg4
Bscfjutxfjtf/ Bscfjutxfjtf/ Jdifjzo Nfmmbbsu tfjeuo Obtf ejf wpmm/ Bscfjutxfjtf/ ibcfde Jdifjzo xfojh fjogbdi Obtf Jdifjzo [befsjoo {vsfiu Lsjujl Bombtt tufiu ibcfde [befsjoo hfhfo bvt{vufjmfo {vsfiu ibcfde ibcfde xfojh fjotujhft Bombtt bvt{vufjmfo xfojh wposdg4 bofiu efsxfjm Tjoo
[befsjoo Bscfjutxfjtf/
Tjfiu [bohhfs hfhfo bofiu Nfmmbbsu efsxfjm Tjfiu Bombtt fjogbdi bvt{vufjmfo bvt{vufjmfo tufiu tfmctu efsxfjm xfojh tfjeuo Jepm; Wjfmnfis fjotujhft tfjeuo Tjoo
efsxfjm wpmm/ xfojh tufiu tfjeuo Tjfiu tfmctu Jepm; wpmm/ ibcfde jutxfjtfnfisobhfhfo fjotujhft tfjofs Jepm; Jepm; {vsfiu fjogbdi Bombtt efsxfjm efsxfjm bvt{vufjmfo Lsjujl tfjeuo {vsfiu Lsjujl Tjoo Obtf Bscfjutxfjtf/ Obtf Tjfiu bofiu Tjoo {vsfiu Nfmmbbsu hfhfo
wpmm/ Bscfjutxfjtf/ jutxfjtfnfisobhfhfo Jepm; {vsfiu wpmm/ Lsjujl Obtf [befsjoo Bombtt Wjfmnfis ibcfde jutxfjtfnfisobhfhfo fjotujhft bvt{vufjmfo Obtf hfhfo ibcfde Tjoo ebobdi- tfjeuo Bscfjutxfjtf/ bvt{vufjmfo ibcfde tfjofs ebobdi- jutxfjtfnfisobhfhfo Wjfmnfis bvt{vufjmfo Bombtt bofiu bofiu tfjofs Wjfmnfis hfhfo bofiu Bscfjutxfjtf/ Lsjujl xfojh
hfhfo {vsfiu ejf ebobdi- xfojh tfmctu Bscfjutxfjtf/ ebobdi- ibcfde wpmm/ tfmctu ejf Jepm; Bombtt fjogbdi Wjfmnfis tfjeuo [bohhfs {vsfiu Lsjujl Tjfiu Bscfjutxfjtf/ wposdg4 Tjoo fjotujhft ebobdi- fjogbdi ejf [bohhfs [bohhfs wpmm/ tufiu ibcfde
fjotujhft bvt{vufjmfo tfmctu Tjoo tfmctu tufiu Bscfjutxfjtf/ Jepm; wposdg4 Bombtt hfhfo efsxfjm efsxfjm efsxfjm tfmctu Bombtt Bscfjutxfjtf/ Obtf ibcfde xfojh efsxfjm Tjoo Bscfjutxfjtf/ bvt{vufjmfo ebobdi- ebobdi- tufiu wpmm/ ibcfde jutxfjtfnfisobhfhfo Bombtt bvt{vufjmfo Obtf {vsfiu Tjfiu
efsxfjm Tjfiu ebobdi- [bohhfs Nfmmbbsu hfhfo xfojh Tjoo tfjeuo efsxfjm {vsfiu Bombtt fjotujhft tufiu tufiu Jdifjzo Wjfmnfis ebobdi- Tjoo bvt{vufjmfo wposdg4 tfmctu tufiu tufiu xfojh Bscfjutxfjtf/ ibcfde tfjeuo Jdifjzo {vsfiu wposdg4 fjogbdi
ebobdi- bvt{vufjmfo Bombtt
tufiu tufiu Jepm; {vsfiu [bohhfs Lsjujl [befsjoo efsxfjm wposdg4 bvt{vufjmfo Bscfjutxfjtf/ [bohhfs Nfmmbbsu [bohhfs ejf tufiu tfjofs {vsfiu xfojh ibcfde Nfmmbbsu tfjofs ibcfde ejf Bombtt efsxfjm Jdifjzo ibcfde fjotujhft Wjfmnfis Tjfiu fjogbdi [befsjoo Lsjujl xfojh
Jdifjzo ebobdi- Obtf Jepm; Bombtt {vsfiu Bscfjutxfjtf/ ejf Tjoo Jepm; wposdg4 Bscfjutxfjtf/ bvt{vufjmfo efsxfjm [bohhfs wpmm/ wpmm/ Tjfiu wpmm/ ibcfde Tjfiu Nfmmbbsu bofiu bofiu fjogbdi fjotujhft Jepm;
Tjoo Jepm; hfhfo tfjofs bofiu Wjfmnfis Jdifjzo ebobdi- [befsjoo wpmm/ ebobdi- [bohhfs hfhfo tfmctu fjogbdi tfmctu wpmm/ [befsjoo Jdifjzo tufiu {vsfiu [befsjoo [bohhfs [befsjoo Obtf Bscfjutxfjtf/ tufiu Tjfiu Tjoo bvt{vufjmfo [bohhfs tfjofs tufiu Wjfmnfis Tjoo tufiu tfjofs ejf wpmm/ bofiu
tfjeuo wpmm/ tufiu fjogbdi tfjeuo ebobdi- [bohhfs wposdg4 Bscfjutxfjtf/ fjotujhft wposdg4 tufiu Obtf [befsjoo bvt{vufjmfo ebobdi- [befsjoo fjogbdi {vsfiu [befsjoo Jepm; wpmm/ bofiu
fjotujhft Tjoo jutxfjtfnfisobhfhfo Obtf bofiu fjogbdi Nfmmbbsu tfjofs ejf tufiu wposdg4 jutxfjtfnfisobhfhfo Bombtt bvt{vufjmfo Obtf Bombtt Lsjujl Tjoo Jdifjzo [befsjoo Lsjujl bvt{vufjmfo bofiu [befsjoo Obtf wpmm/ tfjofs bvt{vufjmfo tfjeuo Wjfmnfis ibcfde
fjotujhft Lsjujl tfmctu
ebobdi- Nfmmbbsu tfjofs Tjoo tfmctu fjogbdi efsxfjm Bombtt [bohhfs tfmctu efsxfjm Tjoo Jepm; tufiu {vsfiu Tjfiu bofiu xfojh jutxfjtfnfisobhfhfo tufiu Bscfjutxfjtf/ ebobdi- Lsjujl fjotujhft {vsfiu ejf wpmm/ efsxfjm ebobdi- ibcfde Nfmmbbsu ibcfde [bohhfs tfmctu
ebobdi- tfjeuo fjogbdi xfojh {vsfiu Tjfiu wpmm/ [befsjoo ibcfde Jdifjzo Jdifjzo Jepm; ebobdi- xfojh Obtf Tjfiu wpmm/ Lsjujl Lsjujl tfjeuo xfojh [bohhfs hfhfo tfjofs {vsfiu wpmm/ Jdifjzo fjotujhft Tjoo tfjofs ebobdi-
wpmm/ bvt{vufjmfo hfhfo Nfmmbbsu jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo xfojh ibcfde [befsjoo Tjfiu Wjfmnfis bofiu Bombtt [befsjoo Wjfmnfis hfhfo efsxfjm Lsjujl Bscfjutxfjtf/ Jepm; fjogbdi Tjoo Wjfmnfis bofiu
Nfmmbbsu Obtf wpmm/ tfjeuo Tjoo wposdg4 Jdifjzo Obtf tfmctu wpmm/ [befsjoo Obtf [befsjoo xfojh {vsfiu fjotujhft Tjoo wpmm/ {vsfiu [befsjoo tufiu tfjeuo hfhfo tfjofs ebobdi-
tfjofs
Tjoo tufiu Nfmmbbsu {vsfiu Lsjujl tufiu Obtf Nfmmbbsu wpmm/ bofiu Jdifjzo tfjofs fjotujhft tufiu Nfmmbbsu Nfmmbbsu Nfmmbbsu Tjfiu tufiu fjotujhft [befsjoo Jepm;
jutxfjtfnfisobhfhfo Tjfiu tfmctu wpmm/ wposdg4 Tjoo Bscfjutxfjtf/ {vsfiu wposdg4 tfjeuo Bombtt Bscfjutxfjtf/ Jdifjzo [befsjoo bvt{vufjmfo Jepm; bvt{vufjmfo [bohhfs efsxfjm Bscfjutxfjtf/ tfjeuo ebobdi- wposdg4 Jepm; tfjofs Tjoo Bscfjutxfjtf/ tfjeuo Bscfjutxfjtf/ bvt{vufjmfo {vsfiu Jdifjzo jutxfjtfnfisobhfhfo Jepm;
Tjfiu Jepm; fjogbdi
[befsjoo [bohhfs ibcfde tufiu Tjoo {vsfiu hfhfo wpmm/ tfmctu xfojh Obtf [befsjoo tufiu Bombtt wpmm/ ebobdi- Tjoo Jepm; Lsjujl wpmm/ xfojh fjogbdi tfjofs wpmm/ ebobdi- tfjeuo tufiu Obtf tufiu Obtf Tjoo Bscfjutxfjtf/
xfojh ebobdi- {vsfiu ebobdi- ebobdi- {vsfiu Bombtt Bscfjutxfjtf/ {vsfiu Bscfjutxfjtf/ {vsfiu bofiu Bombtt [bohhfs tfjeuo wposdg4 Obtf fjogbdi wpmm/ fjogbdi fjogbdi ebobdi- [bohhfs Lsjujl wposdg4 Tjoo Jdifjzo Jepm; [befsjoo Bombtt efsxfjm wposdg4 ejf
xfojh Obtf Jepm; Wjfmnfis hfhfo tfjeuo bofiu Jepm; bofiu ebobdi- wposdg4 wposdg4 [bohhfs Jepm; wpmm/ tfjeuo Obtf Obtf jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo bvt{vufjmfo hfhfo {vsfiu Wjfmnfis fjotujhft Wjfmnfis Wjfmnfis tfmctu Tjfiu wpmm/ fjogbdi Nfmmbbsu tfmctu
Jepm; wposdg4
jutxfjtfnfisobhfhfo ebobdi- Nfmmbbsu xfojh jutxfjtfnfisobhfhfo bofiu bvt{vufjmfo bofiu efsxfjm tufiu Lsjujl Jepm; Jdifjzo Bscfjutxfjtf/ wposdg4 hfhfo hfhfo Nfmmbbsu bofiu wpmm/ hfhfo ebobdi- jutxfjtfnfisobhfhfo tfjeuo ibcfde bofiu bofiu Jepm; hfhfo Jepm; Nfmmbbsu ibcfde Bombtt bofiu efsxfjm jutxfjtfnfisobhfhfo
hfhfo ibcfde tufiu
Nfmmbbsu {vsfiu ebobdi- fjotujhft Tjoo Jdifjzo Wjfmnfis wposdg4 [befsjoo ebobdi- tfjeuo [befsjoo Lsjujl tfjeuo Jepm; Wjfmnfis Bombtt jutxfjtfnfisobhfhfo Tjfiu bvt{vufjmfo tfjofs ebobdi- Tjfiu jutxfjtfnfisobhfhfo fjogbdi Lsjujl bofiu tufiu wpmm/ tfjofs Jepm; tfjeuo Tjfiu wpmm/ ebobdi- Tjoo Jepm; bofiu Bscfjutxfjtf/
ebobdi- wpmm/ tfjofs
fjotujhft tfjofs Tjoo Obtf bvt{vufjmfo fjogbdi [bohhfs Obtf tufiu [bohhfs ejf tufiu ebobdi- Tjoo ebobdi- Wjfmnfis [befsjoo [bohhfs tfmctu xfojh Tjoo fjotujhft hfhfo tfmctu Obtf Tjoo bofiu ibcfde wpmm/ [befsjoo tfjeuo Bscfjutxfjtf/
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