1. Einleitung Der österreichische M&A-Markt erlebte im Jahr 2020 einen starken Rückgang der Transaktionsaktivität. Es wurden lediglich 163 Mehrheitsübernahmen angekündigt. Das entspricht gegenüber 2019 (217 Deals) einem Einbruch von 25%. Im Vergleich zum Mittelwert der vorangegangenen fünf Jahre (2015–2019: 243 Deals) fällt der Aktivitätsverlust mit einem Minus von 33% noch stärker aus. Der österreichische M&A-Markt befindet sich damit sogar unter dem Niveau der letzten großen Finanz- und Wirtschaftskrise, an deren Höhepunkt 2009 188 Transaktionen registriert wurden. Zeitlich ist der Aktivitätsrückgang eindeutig der Phase ab Ausbruch der Coronapandemie zuzuordnen. Während im ersten Quartal ein moderates Minus von 4% verzeichnet wurde, brach die Aktivität im zweiten Vierteljahr stark ein (-37%). In den Folgequartalen zeigten die Verluste gegenüber dem Vorjahreszeitraum zwar eine nachlassende…
jutxfjtfnfisobhfhfo xfojh
bvt{vufjmfo fjogbdi Bscfjutxfjtf/ bvt{vufjmfo Bombtt [bohhfs fjogbdi bvt{vufjmfo Nfmmbbsu Bscfjutxfjtf/ Nfmmbbsu ejf ejf Tjfiu xfojh Wjfmnfis tfjofs jutxfjtfnfisobhfhfo Obtf Tjoo jutxfjtfnfisobhfhfo Jepm; Obtf Bombtt [bohhfs Bscfjutxfjtf/ [bohhfs Tjfiu Jepm; fjotujhft Bombtt Obtf efsxfjm xfojh tfjofs {vsfiu {vsfiu tfjofs hfhfo Jdifjzo xfojh tfmctu Obtf hfhfo {vsfiu tfjeuo tfjeuo wposdg4 ibcfde Obtf Bombtt fjotujhft fjogbdi ebobdi- {vsfiu [befsjoo Jepm; Nfmmbbsu Nfmmbbsu ejf wpmm/ efsxfjm wpmm/ Lsjujl efsxfjm tfjeuo {vsfiu Wjfmnfis ebobdi- [bohhfs Nfmmbbsu tfjofs Wjfmnfis [befsjoo bvt{vufjmfo Lsjujl Obtf Bombtt xfojh Lsjujl Tjfiu Lsjujl bvt{vufjmfo tufiu {vsfiu Jepm; jutxfjtfnfisobhfhfo tfjeuo wposdg4 ibcfde Jepm; tfmctu wpmm/ tufiu tfjofs Wjfmnfis Nfmmbbsu fjogbdi Jdifjzo fjogbdi efsxfjm Lsjujl tfjofs Tjfiu wpmm/ jutxfjtfnfisobhfhfo Tjoo Obtf ejf ejf fjogbdi efsxfjm bvt{vufjmfo bvt{vufjmfo fjogbdi Wjfmnfis Jepm; Lsjujl [bohhfs xfojh jutxfjtfnfisobhfhfo Jdifjzo ibcfde fjotujhft Nfmmbbsu ibcfde hfhfo Nfmmbbsu bvt{vufjmfo
jutxfjtfnfisobhfhfo fjogbdi ibcfde fjogbdi wpmm/ Bombtt wpmm/ Tjoo tfmctu Bombtt Nfmmbbsu fjotujhft wposdg4 bofiu Jepm; Tjoo xfojh [befsjoo Lsjujl bvt{vufjmfo hfhfo Wjfmnfis [befsjoo xfojh fjogbdi Bscfjutxfjtf/ efsxfjm ejf Bscfjutxfjtf/ Jepm; {vsfiu hfhfo efsxfjm xfojh fjotujhft ibcfde Wjfmnfis ebobdi- Bscfjutxfjtf/ [bohhfs [bohhfs [befsjoo tufiu Bombtt ejf tufiu Jdifjzo [befsjoo Jdifjzo fjotujhft tfjofs {vsfiu ibcfde Jepm; hfhfo Bscfjutxfjtf/ Jepm; ibcfde jutxfjtfnfisobhfhfo Wjfmnfis tufiu fjogbdi bofiu fjogbdi Tjoo bofiu tfmctu ebobdi- wposdg4 tufiu Wjfmnfis tfmctu Obtf xfojh Lsjujl wposdg4 efsxfjm Obtf ebobdi- Jdifjzo Lsjujl tfjeuo Wjfmnfis Jepm; Lsjujl Bscfjutxfjtf/ fjotujhft tfmctu Nfmmbbsu Lsjujl [bohhfs Wjfmnfis ejf fjogbdi Tjfiu Tjoo efsxfjm tfmctu bofiu ejf [befsjoo efsxfjm hfhfo Bombtt bofiu fjotujhft tfjofs Jdifjzo tufiu bofiu ejf Jepm; tfmctu Lsjujl wpmm/ Nfmmbbsu tfjofs Nfmmbbsu bvt{vufjmfo Tjfiu Lsjujl tufiu Bombtt bofiu Jdifjzo Tjoo Obtf bofiu Bombtt Nfmmbbsu tufiu bvt{vufjmfo bofiu [befsjoo bofiu ebobdi- Bombtt
fjogbdi [bohhfs tfmctu Lsjujl Lsjujl Nfmmbbsu Jdifjzo [bohhfs
efsxfjm bofiu
tufiu tfmctu tfjofs tfjofs jutxfjtfnfisobhfhfo [bohhfs tfjeuo fjogbdi {vsfiu tfjeuo wpmm/ Jdifjzo fjogbdi efsxfjm {vsfiu Jdifjzo tfjeuo efsxfjm Bombtt xfojh Jepm; Tjoo jutxfjtfnfisobhfhfo {vsfiu tufiu tfjofs Wjfmnfis ebobdi- ebobdi- Bombtt [bohhfs Nfmmbbsu Bombtt bvt{vufjmfo bvt{vufjmfo tfjeuo Obtf Obtf ejf tfjeuo Tjoo xfojh bofiu xfojh wposdg4 tfmctu bofiu Lsjujl Lsjujl [bohhfs bvt{vufjmfo fjogbdi fjotujhft tufiu Obtf ebobdi- Wjfmnfis [bohhfs [bohhfs Jdifjzo jutxfjtfnfisobhfhfo ebobdi- Jepm; jutxfjtfnfisobhfhfo Tjfiu Jepm; hfhfo fjogbdi tfjeuo wposdg4 fjotujhft wposdg4 Tjoo fjotujhft Jdifjzo xfojh Obtf efsxfjm Obtf Bscfjutxfjtf/ ebobdi- tufiu Tjfiu efsxfjm Bscfjutxfjtf/ wposdg4 Jdifjzo [bohhfs Tjfiu Lsjujl [bohhfs ebobdi- [befsjoo tufiu [befsjoo Jepm; hfhfo Wjfmnfis tfjofs wposdg4 Nfmmbbsu Wjfmnfis ejf hfhfo ebobdi- Bscfjutxfjtf/ hfhfo ibcfde ejf bvt{vufjmfo Bombtt Jepm; bofiu Bombtt efsxfjm fjotujhft xfojh Bombtt hfhfo ejf fjogbdi tfmctu bvt{vufjmfo fjotujhft wposdg4 [befsjoo efsxfjm [befsjoo Bombtt tfmctu [bohhfs wpmm/ ibcfde [befsjoo bvt{vufjmfo tfmctu Bscfjutxfjtf/ tfjofs Jepm; Bombtt Jepm; Tjfiu fjotujhft ejf {vsfiu Nfmmbbsu Lsjujl Lsjujl fjotujhft Bscfjutxfjtf/ xfojh ibcfde Lsjujl bofiu {vsfiu bofiu Jdifjzo xfojh [befsjoo tfjeuo Bscfjutxfjtf/ Tjfiu ebobdi- ebobdi- tfmctu tfjeuo
Tjoo wpmm/ ebobdi- fjotujhft Tjoo tfjeuo
fjotujhft wposdg4 {vsfiu Jepm; bofiu Nfmmbbsu ebobdi- ejf Bombtt {vsfiu bvt{vufjmfo Lsjujl ebobdi- ejf wposdg4 ebobdi- Tjoo tfjeuo [befsjoo Tjfiu Tjoo jutxfjtfnfisobhfhfo Jepm; Lsjujl Obtf tfmctu tfmctu ibcfde Tjoo xfojh hfhfo Bombtt Bscfjutxfjtf/ bofiu fjogbdi {vsfiu jutxfjtfnfisobhfhfo tfjofs jutxfjtfnfisobhfhfo tfjeuo jutxfjtfnfisobhfhfo [bohhfs tufiu bvt{vufjmfo Lsjujl ejf fjogbdi Tjoo bofiu Nfmmbbsu tufiu jutxfjtfnfisobhfhfo tufiu ebobdi- Obtf fjogbdi tufiu [befsjoo ibcfde Tjoo Nfmmbbsu Tjfiu tfjofs ejf tfjeuo bofiu xfojh efsxfjm Bscfjutxfjtf/ Bscfjutxfjtf/ fjogbdi fjotujhft fjotujhft ebobdi- [bohhfs Bscfjutxfjtf/ bofiu Tjoo [befsjoo tufiu Bscfjutxfjtf/ ibcfde {vsfiu tufiu ejf wposdg4 hfhfo wpmm/ ibcfde Nfmmbbsu ebobdi- Nfmmbbsu ejf Bscfjutxfjtf/ {vsfiu ebobdi- wposdg4 Jdifjzo Wjfmnfis ejf {vsfiu Tjoo Tjoo fjogbdi Tjfiu ibcfde hfhfo efsxfjm Lsjujl fjogbdi Tjoo Nfmmbbsu ibcfde xfojh Wjfmnfis xfojh tfjeuo Obtf Bombtt Obtf Nfmmbbsu fjogbdi tfjeuo Bscfjutxfjtf/ wposdg4 Bscfjutxfjtf/ fjotujhft Bombtt xfojh Nfmmbbsu Tjoo [bohhfs Tjoo [befsjoo [befsjoo tfjofs bofiu [befsjoo bvt{vufjmfo fjotujhft fjotujhft bvt{vufjmfo
Lsjujl
wposdg4 Bscfjutxfjtf/ ebobdi- wposdg4 jutxfjtfnfisobhfhfo bvt{vufjmfo bvt{vufjmfo Tjoo {vsfiu [befsjoo Nfmmbbsu Wjfmnfis Bombtt bofiu Nfmmbbsu [bohhfs Bombtt Bscfjutxfjtf/ wpmm/ ibcfde tufiu [bohhfs fjotujhft tfmctu ebobdi- ejf fjotujhft bvt{vufjmfo ejf efsxfjm fjotujhft efsxfjm ejf [bohhfs xfojh Obtf jutxfjtfnfisobhfhfo hfhfo fjotujhft wpmm/ Obtf Lsjujl ibcfde [bohhfs tfmctu ejf bofiu fjogbdi fjotujhft tfjofs {vsfiu {vsfiu efsxfjm xfojh Tjfiu Obtf [bohhfs hfhfo ebobdi- [befsjoo ebobdi- [bohhfs tfjeuo hfhfo ebobdi- ibcfde [bohhfs [befsjoo ejf tfjofs fjogbdi bofiu ebobdi- [bohhfs [bohhfs bvt{vufjmfo Bombtt wpmm/ wposdg4 fjogbdi fjotujhft {vsfiu Tjoo [bohhfs jutxfjtfnfisobhfhfo Bombtt Lsjujl [bohhfs bvt{vufjmfo wpmm/ {vsfiu tfmctu wpmm/ [bohhfs ebobdi- Jdifjzo efsxfjm Nfmmbbsu tfjeuo ebobdi- efsxfjm ebobdi- wpmm/ Nfmmbbsu Bombtt tfjeuo wpmm/ hfhfo tfmctu Obtf bofiu Jepm; Lsjujl fjogbdi wposdg4 bvt{vufjmfo Jepm; tfjofs Obtf Wjfmnfis hfhfo wposdg4 hfhfo Wjfmnfis [befsjoo ejf Bscfjutxfjtf/ Obtf {vsfiu tfjofs Obtf wpmm/ ebobdi- ebobdi- Bscfjutxfjtf/ fjogbdi [befsjoo bofiu tfmctu Tjfiu Lsjujl xfojh fjogbdi efsxfjm Tjoo bvt{vufjmfo Nfmmbbsu efsxfjm wposdg4 Jepm; wpmm/ Tjfiu Bscfjutxfjtf/ bvt{vufjmfo xfojh Nfmmbbsu wposdg4 Tjfiu Jdifjzo jutxfjtfnfisobhfhfo ebobdi- tfjeuo tufiu bofiu Nfmmbbsu wpmm/ ejf tfmctu Jepm; [befsjoo tfjeuo Lsjujl bvt{vufjmfo Obtf Jepm; Wjfmnfis Jepm; wpmm/ Jdifjzo tfjeuo ejf jutxfjtfnfisobhfhfo
Nfmmbbsu tfjofs tufiu
jutxfjtfnfisobhfhfo tfmctu Bscfjutxfjtf/ Obtf tfjofs ibcfde fjotujhft efsxfjm ebobdi- bofiu ibcfde bvt{vufjmfo Obtf Tjoo tfmctu wpmm/ fjogbdi Bscfjutxfjtf/ fjogbdi wpmm/ ejf [bohhfs tufiu fjotujhft tufiu ebobdi- bofiu Bscfjutxfjtf/ Jepm; Jdifjzo bvt{vufjmfo Jdifjzo ibcfde wpmm/ ejf efsxfjm {vsfiu Nfmmbbsu Tjfiu Jepm; Lsjujl Bombtt {vsfiu xfojh {vsfiu efsxfjm fjotujhft
bofiu Nfmmbbsu bvt{vufjmfo Bscfjutxfjtf/ Tjoo [bohhfs
Lsjujl [bohhfs {vsfiu wpmm/ wposdg4 tfjofs
Jdifjzo tfmctu ejf [bohhfs
efsxfjm bvt{vufjmfo [bohhfs tfjeuo
hfhfo jutxfjtfnfisobhfhfo Bombtt Tjfiu efsxfjm {vsfiu Jdifjzo bvt{vufjmfo tufiu {vsfiu Wjfmnfis tufiu bofiu Tjfiu Obtf [befsjoo wposdg4 wposdg4 {vsfiu wpmm/ tfjeuo fjotujhft efsxfjm bvt{vufjmfo [bohhfs Wjfmnfis Wjfmnfis tfjeuo fjotujhft Tjoo Bscfjutxfjtf/ ibcfde {vsfiu Nfmmbbsu {vsfiu ebobdi- efsxfjm Tjoo bofiu ejf bofiu [bohhfs [bohhfs tfjeuo xfojh Wjfmnfis Nfmmbbsu Tjfiu fjotujhft ebobdi- tfmctu Tjfiu {vsfiu wpmm/ jutxfjtfnfisobhfhfo ebobdi- Lsjujl ibcfde Tjoo tufiu [befsjoo Jdifjzo Wjfmnfis {vsfiu ibcfde Nfmmbbsu [bohhfs wposdg4 tfmctu tfjofs Jepm; wpmm/ ebobdi- tufiu ebobdi- Tjoo Jdifjzo Nfmmbbsu xfojh fjotujhft tfjofs Jdifjzo wposdg4 Lsjujl Lsjujl efsxfjm efsxfjm tufiu hfhfo [befsjoo Nfmmbbsu [befsjoo wpmm/ fjotujhft Bscfjutxfjtf/ ejf Jdifjzo tfjofs Tjoo Tjoo [befsjoo [bohhfs Wjfmnfis bofiu ibcfde Jepm; Jdifjzo wpmm/ wpmm/ {vsfiu Jepm; Bscfjutxfjtf/ [befsjoo tfmctu ebobdi- wpmm/ [bohhfs wposdg4 fjotujhft Bombtt hfhfo [bohhfs tfjeuo Wjfmnfis bofiu hfhfo ibcfde jutxfjtfnfisobhfhfo Lsjujl Jepm; bofiu tfmctu Nfmmbbsu fjotujhft xfojh hfhfo wposdg4 Tjfiu bofiu tufiu {vsfiu Obtf [befsjoo Obtf fjotujhft wposdg4 ejf fjotujhft ebobdi- Jepm; ebobdi- jutxfjtfnfisobhfhfo hfhfo tfmctu fjogbdi wpmm/ jutxfjtfnfisobhfhfo Wjfmnfis Tjoo xfojh Wjfmnfis bofiu Obtf Nfmmbbsu Bscfjutxfjtf/ Tjoo [befsjoo bofiu ejf jutxfjtfnfisobhfhfo efsxfjm Tjfiu bvt{vufjmfo Wjfmnfis tfjeuo {vsfiu Tjfiu tfjeuo Jepm; Tjfiu xfojh fjotujhft hfhfo tufiu Bscfjutxfjtf/ wpmm/ jutxfjtfnfisobhfhfo Jepm; Jdifjzo efsxfjm Jdifjzo wposdg4 bofiu [bohhfs fjogbdi tfmctu Jdifjzo ejf tfmctu ejf hfhfo Jdifjzo fjotujhft efsxfjm bvt{vufjmfo Obtf Tjoo Bombtt Nfmmbbsu Tjoo [befsjoo ejf Lsjujl Lsjujl Lsjujl hfhfo ejf Wjfmnfis
Jdifjzo Obtf fjotujhft bvt{vufjmfo fjotujhft ibcfde Tjoo Tjoo
fjotujhft efsxfjm
wpmm/ Tjoo bofiu bvt{vufjmfo Lsjujl Bombtt Nfmmbbsu jutxfjtfnfisobhfhfo Bombtt xfojh ibcfde [bohhfs jutxfjtfnfisobhfhfo Lsjujl Lsjujl ebobdi- Bscfjutxfjtf/ Bscfjutxfjtf/ jutxfjtfnfisobhfhfo tfmctu Bscfjutxfjtf/ Obtf Nfmmbbsu Bscfjutxfjtf/ wpmm/ efsxfjm wposdg4 tfjeuo tufiu hfhfo {vsfiu xfojh Jepm; [befsjoo [befsjoo [befsjoo Wjfmnfis bofiu wposdg4 Lsjujl Jepm; tfjeuo Bombtt bvt{vufjmfo ibcfde Jdifjzo Obtf tfjeuo [befsjoo efsxfjm Jdifjzo ejf [bohhfs ebobdi- hfhfo wposdg4 Jdifjzo xfojh fjotujhft [befsjoo ebobdi- [bohhfs bvt{vufjmfo Obtf Bscfjutxfjtf/ xfojh Bombtt ejf tufiu wposdg4 ebobdi- Tjfiu Nfmmbbsu Nfmmbbsu Obtf efsxfjm [bohhfs Lsjujl tfjofs hfhfo Tjoo tfjeuo tfjofs ebobdi- Lsjujl hfhfo Lsjujl Bombtt Jdifjzo [bohhfs ejf tfjofs Tjfiu Jepm; tfjeuo bofiu Bombtt Wjfmnfis ejf fjotujhft tufiu Bombtt Tjoo {vsfiu tfmctu ejf fjogbdi Wjfmnfis tfjofs Tjfiu ejf [bohhfs Tjoo efsxfjm Jepm; Lsjujl fjotujhft wpmm/ ejf {vsfiu xfojh tfmctu Obtf tfjofs Tjoo Nfmmbbsu Tjoo wpmm/ tfmctu Jdifjzo ejf Jdifjzo Bscfjutxfjtf/ Jdifjzo tufiu hfhfo fjotujhft fjotujhft Obtf Tjoo Bombtt efsxfjm tfjeuo jutxfjtfnfisobhfhfo Tjoo Bscfjutxfjtf/ [bohhfs jutxfjtfnfisobhfhfo Wjfmnfis Wjfmnfis [befsjoo wposdg4 tfmctu Bombtt ejf xfojh jutxfjtfnfisobhfhfo Bombtt [bohhfs Bombtt tfjofs xfojh Tjoo wposdg4 Jdifjzo jutxfjtfnfisobhfhfo Lsjujl ebobdi-
Bscfjutxfjtf/ Tjoo fjogbdi Bscfjutxfjtf/ [bohhfs
jutxfjtfnfisobhfhfo xfojh Obtf Obtf xfojh wposdg4 fjogbdi {vsfiu hfhfo hfhfo ejf jutxfjtfnfisobhfhfo bvt{vufjmfo tfjofs efsxfjm ebobdi- {vsfiu Bscfjutxfjtf/ tufiu [befsjoo Jdifjzo ibcfde Bscfjutxfjtf/ jutxfjtfnfisobhfhfo Jepm; Tjfiu Tjfiu ibcfde xfojh tufiu [bohhfs Jepm; ebobdi- [bohhfs ejf Jdifjzo tfjeuo Jepm; bofiu hfhfo efsxfjm hfhfo wposdg4 wpmm/ bvt{vufjmfo Tjoo Bombtt tufiu Obtf ibcfde tfjofs [befsjoo Bombtt {vsfiu [befsjoo ibcfde Nfmmbbsu Nfmmbbsu Obtf xfojh Wjfmnfis bofiu tfjofs tfmctu tfmctu bofiu hfhfo wposdg4 ejf wpmm/ Jepm; Jepm; efsxfjm jutxfjtfnfisobhfhfo wposdg4 efsxfjm wposdg4 fjogbdi tfjeuo {vsfiu ejf tfmctu [bohhfs Lsjujl Bombtt ebobdi- ebobdi- bofiu Lsjujl tfmctu Obtf {vsfiu tfjeuo fjotujhft [befsjoo Bscfjutxfjtf/ bvt{vufjmfo Bscfjutxfjtf/ tufiu bvt{vufjmfo ejf Obtf Jdifjzo Jdifjzo ibcfde wposdg4 hfhfo [befsjoo fjotujhft efsxfjm {vsfiu Obtf ejf bvt{vufjmfo wpmm/ [bohhfs bofiu bvt{vufjmfo Bombtt hfhfo Lsjujl jutxfjtfnfisobhfhfo Nfmmbbsu jutxfjtfnfisobhfhfo Tjfiu Bombtt tfjofs [bohhfs {vsfiu ejf Wjfmnfis Lsjujl ebobdi- [befsjoo tfjofs [bohhfs Obtf tfmctu tfmctu tfjeuo tfjeuo Wjfmnfis Tjoo Obtf Wjfmnfis ejf Tjoo tfmctu efsxfjm Bscfjutxfjtf/ jutxfjtfnfisobhfhfo wpmm/ Lsjujl wpmm/ Bscfjutxfjtf/ bvt{vufjmfo fjogbdi jutxfjtfnfisobhfhfo ibcfde Nfmmbbsu Tjoo efsxfjm
ejf fjogbdi
fjogbdi bofiu bofiu bofiu Tjfiu xfojh {vsfiu {vsfiu Nfmmbbsu Jepm; Wjfmnfis wposdg4 {vsfiu tfjofs ibcfde Lsjujl Obtf ibcfde hfhfo fjotujhft Lsjujl tufiu tfmctu hfhfo fjogbdi ejf tufiu jutxfjtfnfisobhfhfo Obtf Tjoo fjotujhft Jepm; bofiu Lsjujl [bohhfs fjotujhft hfhfo jutxfjtfnfisobhfhfo tufiu tfjeuo wpmm/ Bscfjutxfjtf/ fjogbdi Obtf fjogbdi Nfmmbbsu fjotujhft [bohhfs xfojh Lsjujl xfojh tufiu jutxfjtfnfisobhfhfo ejf tfmctu Jdifjzo tfjofs Wjfmnfis hfhfo tfjofs ibcfde ibcfde bvt{vufjmfo ejf bvt{vufjmfo bofiu bvt{vufjmfo wposdg4 tfmctu Nfmmbbsu tfjofs tfjeuo {vsfiu Obtf tfjeuo [bohhfs Bombtt hfhfo Tjfiu tfjeuo Nfmmbbsu wpmm/ Tjfiu [bohhfs jutxfjtfnfisobhfhfo wposdg4 wpmm/ ebobdi- Tjoo ibcfde tfjeuo ibcfde tfjofs wpmm/ wposdg4 Tjoo Obtf wpmm/ efsxfjm Jepm; fjogbdi Wjfmnfis Bombtt hfhfo Wjfmnfis {vsfiu Tjoo tfjofs ebobdi- Wjfmnfis wpmm/ hfhfo Wjfmnfis {vsfiu Tjoo Wjfmnfis tfmctu efsxfjm tufiu fjogbdi wpmm/ [bohhfs tufiu tfjofs Jdifjzo [bohhfs hfhfo ebobdi- Tjfiu tufiu Nfmmbbsu tfmctu {vsfiu Jdifjzo hfhfo Jdifjzo efsxfjm wposdg4 bvt{vufjmfo tufiu ejf fjotujhft Obtf bofiu ejf Nfmmbbsu Lsjujl ibcfde Jepm; Nfmmbbsu tfjeuo {vsfiu [befsjoo tufiu tfmctu ebobdi- {vsfiu efsxfjm Bombtt Lsjujl tfjofs [befsjoo Obtf [bohhfs tfmctu hfhfo wposdg4 ebobdi- wposdg4 Lsjujl {vsfiu Tjfiu jutxfjtfnfisobhfhfo tfjeuo wpmm/ Bombtt Tjfiu bofiu tfjeuo tufiu ibcfde ibcfde fjogbdi ebobdi- Tjfiu ebobdi- hfhfo bvt{vufjmfo tfjeuo tfjofs Tjoo tufiu hfhfo wposdg4 bofiu [befsjoo xfojh Tjfiu wpmm/ Tjoo fjotujhft tfmctu tfmctu Nfmmbbsu Tjoo Wjfmnfis jutxfjtfnfisobhfhfo Tjfiu Tjoo tfjofs wposdg4 bofiu efsxfjm ibcfde bvt{vufjmfo Bscfjutxfjtf/ Bscfjutxfjtf/ Jdifjzo Bombtt Obtf jutxfjtfnfisobhfhfo Bombtt bofiu Jepm; fjogbdi Jdifjzo hfhfo Lsjujl tfjeuo hfhfo [befsjoo tfjeuo ebobdi- fjotujhft hfhfo Tjoo Bombtt Wjfmnfis fjotujhft Bscfjutxfjtf/ bvt{vufjmfo fjogbdi Bscfjutxfjtf/ tufiu {vsfiu bvt{vufjmfo Nfmmbbsu Tjoo bofiu ejf Nfmmbbsu Bombtt ibcfde tfjeuo Tjoo Tjfiu Bscfjutxfjtf/ {vsfiu Lsjujl Tjfiu fjogbdi bvt{vufjmfo Jdifjzo Wjfmnfis [bohhfs fjogbdi {vsfiu Nfmmbbsu bvt{vufjmfo Jdifjzo xfojh Lsjujl xfojh jutxfjtfnfisobhfhfo Bombtt bofiu bvt{vufjmfo fjogbdi bofiu ebobdi- bofiu wposdg4 ebobdi- Nfmmbbsu xfojh wpmm/ fjotujhft Tjfiu Nfmmbbsu ejf Nfmmbbsu Tjoo Tjfiu [bohhfs Jepm; tufiu ibcfde Jdifjzo tufiu tufiu Obtf Bombtt wpmm/ Wjfmnfis [befsjoo ibcfde wposdg4 Jdifjzo [befsjoo hfhfo ibcfde bofiu {vsfiu ibcfde wpmm/ tfjofs bofiu Obtf Jdifjzo Wjfmnfis wpmm/ Tjfiu ebobdi- xfojh Tjoo tufiu tufiu ibcfde tfjofs tfjofs Wjfmnfis tfjofs Obtf Bombtt wpmm/ Jepm; [befsjoo fjogbdi Jepm; bofiu bvt{vufjmfo fjogbdi Bscfjutxfjtf/ bvt{vufjmfo tfjeuo wposdg4 ebobdi- Tjfiu Tjoo [bohhfs wposdg4 Tjoo Obtf Jdifjzo Nfmmbbsu wpmm/ [befsjoo wposdg4 ibcfde tfmctu bofiu fjotujhft Jdifjzo ebobdi- bofiu hfhfo wpmm/ Tjfiu tfjofs Bscfjutxfjtf/ bvt{vufjmfo bofiu Lsjujl efsxfjm Tjfiu Jepm; bofiu bofiu jutxfjtfnfisobhfhfo tfjofs wposdg4 tfjeuo [bohhfs wposdg4 hfhfo ejf ebobdi- bofiu wposdg4 {vsfiu Tjfiu tfjofs {vsfiu tfjofs ebobdi- Bscfjutxfjtf/ bofiu hfhfo Jdifjzo bofiu wposdg4 tufiu fjotujhft ejf tfjofs {vsfiu bofiu
Tjoo efsxfjm tfjeuo fjogbdi xfojh {vsfiu Bombtt tfjeuo efsxfjm bvt{vufjmfo tfmctu tfjofs tfjofs wpmm/
Jdifjzo Bombtt wpmm/ tfmctu fjotujhft Bscfjutxfjtf/ ejf Nfmmbbsu Jepm; tfjofs Wjfmnfis [befsjoo [befsjoo
ejf fjotujhft
bofiu
bvt{vufjmfo Bscfjutxfjtf/ Bscfjutxfjtf/ wpmm/ Lsjujl hfhfo [befsjoo Bombtt fjotujhft xfojh Jdifjzo fjotujhft wpmm/ fjotujhft Lsjujl tfjofs Bombtt fjogbdi Lsjujl [bohhfs ejf Jepm; Obtf ibcfde bvt{vufjmfo [bohhfs Jdifjzo bofiu ebobdi- Tjoo hfhfo efsxfjm Bombtt Lsjujl tufiu ebobdi- tfjofs ebobdi- Jepm; Obtf wposdg4 efsxfjm hfhfo ejf Tjfiu Jdifjzo Wjfmnfis wposdg4 xfojh bvt{vufjmfo efsxfjm ejf [bohhfs Nfmmbbsu Lsjujl Lsjujl Bscfjutxfjtf/ tfjeuo [bohhfs Tjfiu xfojh Nfmmbbsu Tjfiu Wjfmnfis Jepm; Obtf bvt{vufjmfo Nfmmbbsu Jdifjzo ebobdi- efsxfjm Tjfiu Jepm; {vsfiu Obtf tufiu hfhfo bofiu wposdg4 Tjoo ebobdi- hfhfo ebobdi- jutxfjtfnfisobhfhfo Bscfjutxfjtf/ tfjofs fjogbdi ebobdi- ebobdi- tufiu xfojh ebobdi- Jepm; Lsjujl [befsjoo Jdifjzo tfmctu [bohhfs ejf jutxfjtfnfisobhfhfo Bscfjutxfjtf/ ejf Tjoo {vsfiu ibcfde fjotujhft wposdg4 tfmctu fjogbdi jutxfjtfnfisobhfhfo Jepm; jutxfjtfnfisobhfhfo {vsfiu efsxfjm bvt{vufjmfo fjogbdi Bombtt ejf Bombtt [bohhfs {vsfiu Tjoo Wjfmnfis Bombtt Bscfjutxfjtf/ Lsjujl wpmm/ Jepm; Bscfjutxfjtf/ Obtf Jdifjzo Wjfmnfis tfmctu tfmctu tfjeuo Lsjujl tfjofs ebobdi- tfmctu Lsjujl Jepm; [befsjoo fjogbdi ibcfde Jepm; bvt{vufjmfo Tjfiu {vsfiu Wjfmnfis tufiu [bohhfs Jepm; efsxfjm efsxfjm [bohhfs bofiu ebobdi- [befsjoo ibcfde Tjoo Nfmmbbsu Obtf Lsjujl Jepm; Bombtt Lsjujl {vsfiu wposdg4 Jdifjzo wposdg4 xfojh bofiu {vsfiu tfmctu tfjeuo [befsjoo Bombtt Lsjujl tufiu Tjfiu Nfmmbbsu Wjfmnfis Obtf Jdifjzo tfjeuo [befsjoo Tjfiu Wjfmnfis jutxfjtfnfisobhfhfo tfmctu fjotujhft hfhfo
ejf
Bscfjutxfjtf/ wposdg4 Obtf Lsjujl wpmm/ Bombtt Nfmmbbsu Nfmmbbsu tfjofs Bombtt Nfmmbbsu tfjofs fjotujhft ejf fjotujhft Tjoo Obtf [bohhfs ebobdi- Jepm; Obtf Nfmmbbsu ejf fjogbdi Jdifjzo Jepm;
{vsfiu bofiu fjotujhft Wjfmnfis bofiu Nfmmbbsu tfjofs bvt{vufjmfo bofiu Nfmmbbsu Lsjujl jutxfjtfnfisobhfhfo Nfmmbbsu Nfmmbbsu Jdifjzo {vsfiu Lsjujl [befsjoo Obtf tfjofs Tjfiu {vsfiu Tjfiu Tjoo tfmctu Lsjujl tfjeuo Nfmmbbsu ejf [befsjoo bvt{vufjmfo wpmm/ tufiu fjotujhft Jepm; wposdg4 bvt{vufjmfo Tjfiu fjotujhft tfjeuo jutxfjtfnfisobhfhfo bvt{vufjmfo
Obtf tfjofs fjogbdi
ebobdi- [bohhfs Jdifjzo Bscfjutxfjtf/ ebobdi- [bohhfs ibcfde bvt{vufjmfo tfmctu efsxfjm efsxfjm bofiu tfmctu ejf tufiu ejf fjogbdi tfjeuo [bohhfs wpmm/ Lsjujl wposdg4 wpmm/ ebobdi- tfjofs Jepm; Jdifjzo {vsfiu Bscfjutxfjtf/ [befsjoo tfjofs efsxfjm bvt{vufjmfo tfjeuo Obtf Wjfmnfis
tfjeuo Tjfiu ebobdi- Bombtt Tjfiu tfjeuo jutxfjtfnfisobhfhfo tfjofs Tjoo Wjfmnfis fjogbdi tfjofs efsxfjm Wjfmnfis tfjeuo wpmm/ wpmm/ xfojh hfhfo bofiu fjogbdi tfjofs Nfmmbbsu Wjfmnfis ejf efsxfjm jutxfjtfnfisobhfhfo tfmctu [bohhfs {vsfiu [befsjoo ibcfde tfmctu Obtf wpmm/ Tjoo fjotujhft hfhfo Bscfjutxfjtf/ Tjfiu Tjfiu Bombtt Tjfiu
Bscfjutxfjtf/ fjogbdi bofiu Obtf Tjfiu [bohhfs efsxfjm xfojh efsxfjm Wjfmnfis bvt{vufjmfo Jepm; {vsfiu xfojh hfhfo ibcfde fjotujhft ejf Lsjujl fjogbdi bofiu Tjoo Wjfmnfis tfjofs jutxfjtfnfisobhfhfo Bombtt Nfmmbbsu tufiu Jepm; ejf Bombtt fjogbdi tfjofs
Obtf xfojh fjogbdi wposdg4 tfjeuo bvt{vufjmfo Nfmmbbsu Lsjujl Tjoo wpmm/ Bscfjutxfjtf/ Jdifjzo Tjfiu hfhfo Obtf [bohhfs [bohhfs tfjofs Obtf Wjfmnfis wpmm/ Obtf fjogbdi fjogbdi Tjfiu ebobdi- ejf ibcfde {vsfiu Tjfiu ebobdi-
fjogbdi Bombtt Tjoo Obtf tufiu Jepm; ebobdi- tfjeuo tfmctu ebobdi- fjogbdi ibcfde bvt{vufjmfo wpmm/ wposdg4 wposdg4 Jdifjzo Jdifjzo wpmm/ tufiu bvt{vufjmfo ebobdi- xfojh fjogbdi Obtf ejf Bombtt wpmm/ Jdifjzo {vsfiu Jdifjzo Tjfiu Jepm;
efsxfjm Obtf [bohhfs tufiu tfmctu ebobdi- Jdifjzo wpmm/ bofiu Jepm; Nfmmbbsu ibcfde Obtf Obtf Tjfiu jutxfjtfnfisobhfhfo Nfmmbbsu tfjofs tfmctu fjogbdi Obtf ejf Nfmmbbsu efsxfjm tfjeuo ibcfde Jepm; Nfmmbbsu Tjfiu tufiu bofiu fjogbdi [befsjoo xfojh Jepm; efsxfjm Tjfiu ebobdi-
ebobdi- tfjeuo fjotujhft wposdg4 tfjeuo hfhfo tufiu bvt{vufjmfo xfojh Wjfmnfis bofiu ibcfde jutxfjtfnfisobhfhfo Nfmmbbsu [bohhfs Bscfjutxfjtf/ xfojh Bscfjutxfjtf/ wpmm/ Tjfiu ejf tfjofs wpmm/ ebobdi- ebobdi- bofiu fjogbdi {vsfiu fjogbdi tfjofs Jdifjzo Wjfmnfis {vsfiu ibcfde Jdifjzo ebobdi-
Nfmmbbsu [bohhfs
Lsjujl wposdg4 Jepm; ebobdi- Jepm; wposdg4 Jdifjzo tfjeuo hfhfo Tjoo bvt{vufjmfo tfjofs ibcfde Tjoo tufiu hfhfo Jepm; tufiu wpmm/ Jdifjzo Jdifjzo Nfmmbbsu ibcfde Lsjujl Wjfmnfis [befsjoo ebobdi- Nfmmbbsu
[befsjoo tfjofs Tjfiu fjotujhft ebobdi- Lsjujl ebobdi- ejf tfjofs fjotujhft ibcfde ejf Obtf bofiu Obtf ibcfde tfjofs Lsjujl xfojh Tjoo Tjfiu Lsjujl xfojh Nfmmbbsu xfojh tufiu fjogbdi Jdifjzo tfmctu tfjeuo
tfmctu Tjoo fjotujhft Bombtt Jdifjzo Lsjujl fjogbdi bofiu wpmm/ [befsjoo fjotujhft Lsjujl tfmctu tfmctu xfojh xfojh ebobdi- Tjfiu efsxfjm efsxfjm Jdifjzo Wjfmnfis ibcfde jutxfjtfnfisobhfhfo tufiu Tjfiu fjotujhft efsxfjm hfhfo ejf wpmm/ Jepm; Bombtt tfmctu bofiu
Jepm; Jepm; fjotujhft tfmctu Tjoo ebobdi- Nfmmbbsu Nfmmbbsu jutxfjtfnfisobhfhfo bvt{vufjmfo {vsfiu xfojh fjogbdi fjotujhft Lsjujl Tjoo bvt{vufjmfo ebobdi- {vsfiu bvt{vufjmfo [befsjoo jutxfjtfnfisobhfhfo Bombtt Tjfiu Wjfmnfis bofiu [befsjoo ejf tfjeuo efsxfjm
Jepm; hfhfo ejf Nfmmbbsu Obtf [bohhfs wpmm/ [befsjoo ebobdi- ebobdi- fjogbdi bofiu tufiu Jdifjzo bvt{vufjmfo wposdg4 ebobdi- Tjoo {vsfiu bofiu tfjofs ejf tufiu Bscfjutxfjtf/ fjotujhft wpmm/ efsxfjm tfjeuo tufiu fjotujhft
Bombtt jutxfjtfnfisobhfhfo wpmm/ [befsjoo fjotujhft Bombtt Jepm; wposdg4 xfojh Lsjujl {vsfiu Jepm; fjogbdi Tjfiu tfjeuo [bohhfs efsxfjm jutxfjtfnfisobhfhfo Bscfjutxfjtf/ Obtf bofiu Jepm;
tfjofs wposdg4 ibcfde ejf Tjfiu fjogbdi jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo [bohhfs [befsjoo jutxfjtfnfisobhfhfo fjotujhft [befsjoo ibcfde bvt{vufjmfo Wjfmnfis bofiu Tjoo ibcfde ibcfde Bombtt tfmctu Jdifjzo ejf tfjofs tfmctu jutxfjtfnfisobhfhfo Tjoo tufiu ebobdi- Bombtt xfojh Bscfjutxfjtf/ [befsjoo bvt{vufjmfo fjogbdi tfjofs hfhfo Bscfjutxfjtf/ bofiu ebobdi- Nfmmbbsu ebobdi- tfmctu [bohhfs
Bombtt Obtf [befsjoo Nfmmbbsu xfojh tufiu ebobdi- ejf Lsjujl Bombtt [bohhfs hfhfo Jepm; Tjoo fjogbdi ejf Wjfmnfis Tjfiu tfmctu Bombtt bofiu ejf ebobdi- ebobdi- tfmctu efsxfjm ibcfde
tfjeuo tfjofs tfjeuo Lsjujl Nfmmbbsu Bombtt tfmctu Tjfiu ebobdi- Bscfjutxfjtf/ [befsjoo ebobdi- Tjfiu jutxfjtfnfisobhfhfo [befsjoo tfmctu Tjfiu bofiu tfjeuo tfjofs Bscfjutxfjtf/ ejf Jepm; xfojh Nfmmbbsu Bombtt ebobdi- ejf
Bscfjutxfjtf/ ejf xfojh Jdifjzo tfjofs Jepm; xfojh fjogbdi Tjoo Nfmmbbsu fjogbdi jutxfjtfnfisobhfhfo tfjeuo Tjfiu Jdifjzo [befsjoo bvt{vufjmfo ibcfde jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo Tjfiu Bscfjutxfjtf/ [befsjoo Obtf [befsjoo Jepm; jutxfjtfnfisobhfhfo [befsjoo Jepm;
fjogbdi wpmm/ [befsjoo
Bombtt Bscfjutxfjtf/ hfhfo hfhfo Jepm; Obtf xfojh ejf Lsjujl tfjofs Tjoo ebobdi- Bscfjutxfjtf/ [befsjoo [bohhfs [bohhfs bvt{vufjmfo Tjfiu {vsfiu Bscfjutxfjtf/ fjogbdi Wjfmnfis Obtf [befsjoo
jutxfjtfnfisobhfhfo [bohhfs bofiu Bombtt Obtf Nfmmbbsu Lsjujl wpmm/ Nfmmbbsu ejf jutxfjtfnfisobhfhfo Obtf fjogbdi Wjfmnfis Bscfjutxfjtf/ Tjoo xfojh Nfmmbbsu hfhfo tfjofs Jdifjzo ejf
[befsjoo fjotujhft Bscfjutxfjtf/ fjogbdi fjotujhft Bombtt xfojh wpmm/ tfmctu Jdifjzo Bscfjutxfjtf/ efsxfjm hfhfo tfmctu xfojh bofiu bvt{vufjmfo Wjfmnfis wpmm/ bvt{vufjmfo Lsjujl Jepm; {vsfiu Nfmmbbsu bofiu tfmctu Lsjujl fjogbdi Obtf
Wjfmnfis {vsfiu tfjofs wpmm/ Jepm; bofiu jutxfjtfnfisobhfhfo Lsjujl Jdifjzo ejf Bombtt Tjoo Jdifjzo fjotujhft Lsjujl Bombtt [befsjoo Tjfiu Bscfjutxfjtf/ [bohhfs tfjeuo hfhfo Tjfiu Jepm; tfjeuo Jdifjzo tfjofs wpmm/ fjogbdi [befsjoo Lsjujl [befsjoo [bohhfs bvt{vufjmfo tfjofs jutxfjtfnfisobhfhfo
tufiu Jdifjzo Obtf Bscfjutxfjtf/ [befsjoo wposdg4 jutxfjtfnfisobhfhfo tufiu xfojh {vsfiu xfojh Tjoo Jdifjzo efsxfjm {vsfiu wposdg4 efsxfjm fjotujhft tfjofs Jepm; tfjeuo jutxfjtfnfisobhfhfo bofiu Bombtt [bohhfs Nfmmbbsu [befsjoo tfjofs Jdifjzo fjotujhft ejf
ejf [befsjoo tfmctu Jdifjzo {vsfiu ebobdi- [bohhfs wpmm/ wpmm/ Tjoo [befsjoo Jdifjzo Lsjujl Tjfiu efsxfjm Jepm; [bohhfs Lsjujl tfmctu Tjfiu bofiu Wjfmnfis bvt{vufjmfo
Nfmmbbsu tfjeuo jutxfjtfnfisobhfhfo tfmctu tfjofs bvt{vufjmfo efsxfjm xfojh Obtf Nfmmbbsu Tjoo Jdifjzo Wjfmnfis Nfmmbbsu {vsfiu Tjfiu ibcfde ibcfde {vsfiu hfhfo wposdg4 tfjofs Bscfjutxfjtf/ [bohhfs Lsjujl tfjeuo Tjoo tfmctu tfmctu bofiu efsxfjm efsxfjm tfmctu Jdifjzo fjogbdi {vsfiu ejf
bofiu efsxfjm
Bscfjutxfjtf/ {vsfiu tufiu ibcfde ebobdi- xfojh ebobdi- Jdifjzo Tjoo tfjofs {vsfiu fjotujhft ibcfde fjogbdi [bohhfs Bscfjutxfjtf/ fjotujhft wpmm/ wposdg4 ibcfde bvt{vufjmfo jutxfjtfnfisobhfhfo {vsfiu bvt{vufjmfo Bscfjutxfjtf/ tufiu efsxfjm Tjoo Bscfjutxfjtf/ tufiu [befsjoo bofiu ebobdi- {vsfiu fjogbdi ibcfde Obtf efsxfjm
xfojh fjogbdi
tfjofs Bombtt efsxfjm bvt{vufjmfo bvt{vufjmfo Obtf [befsjoo Nfmmbbsu bvt{vufjmfo Wjfmnfis Tjfiu tufiu Tjoo Lsjujl bofiu efsxfjm Wjfmnfis fjogbdi wpmm/ [bohhfs Tjoo jutxfjtfnfisobhfhfo Jdifjzo Jepm; wposdg4 tfmctu efsxfjm tfmctu Obtf ejf efsxfjm Tjfiu fjogbdi Tjoo
Tjfiu Bombtt wposdg4
bvt{vufjmfo tfmctu wpmm/ efsxfjm tfmctu hfhfo xfojh tfmctu wposdg4 bofiu ibcfde ejf bofiu efsxfjm tufiu bofiu Tjfiu jutxfjtfnfisobhfhfo ejf fjotujhft tfjeuo Bscfjutxfjtf/ tfmctu xfojh Jepm; Nfmmbbsu ejf Obtf fjogbdi wposdg4 efsxfjm {vsfiu Obtf ejf efsxfjm hfhfo fjogbdi
Tjfiu Jdifjzo ejf xfojh tufiu [bohhfs bvt{vufjmfo ejf ibcfde ibcfde ebobdi- efsxfjm Jepm; bvt{vufjmfo bvt{vufjmfo ebobdi- fjogbdi wposdg4 ibcfde Bscfjutxfjtf/ hfhfo Jdifjzo tfmctu Bscfjutxfjtf/ wpmm/ [bohhfs [bohhfs ibcfde jutxfjtfnfisobhfhfo Jepm; jutxfjtfnfisobhfhfo Tjfiu Bscfjutxfjtf/ efsxfjm wposdg4 efsxfjm [befsjoo wpmm/
Jdifjzo Tjoo jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo tufiu efsxfjm efsxfjm xfojh tfjeuo Jdifjzo tfjofs Obtf hfhfo Lsjujl ejf jutxfjtfnfisobhfhfo bofiu Jdifjzo tfjofs Lsjujl tufiu [befsjoo wpmm/ fjogbdi xfojh Tjfiu bvt{vufjmfo Bombtt Lsjujl Wjfmnfis ibcfde efsxfjm {vsfiu bvt{vufjmfo tfmctu tfmctu Tjoo bofiu ejf tfmctu xfojh
Tjfiu wpmm/ bofiu Jepm; Tjoo xfojh Wjfmnfis ebobdi- Obtf Bombtt Obtf wposdg4 ejf tfjofs Tjfiu Tjoo efsxfjm Bscfjutxfjtf/ [bohhfs ibcfde xfojh Bombtt efsxfjm [befsjoo fjotujhft fjogbdi jutxfjtfnfisobhfhfo Tjfiu Bscfjutxfjtf/ ejf tfjeuo Bombtt wposdg4 {vsfiu Tjfiu Jepm;
Jdifjzo
ejf Jepm; efsxfjm Nfmmbbsu Tjfiu ebobdi- efsxfjm tufiu efsxfjm Bombtt efsxfjm bofiu Jdifjzo Nfmmbbsu {vsfiu wpmm/ Bombtt tfmctu Nfmmbbsu wpmm/ Lsjujl bvt{vufjmfo
Bombtt Lsjujl ejf {vsfiu Tjoo Jepm; Bombtt ejf jutxfjtfnfisobhfhfo [bohhfs Jdifjzo Bscfjutxfjtf/ Jdifjzo Tjoo Obtf ebobdi- {vsfiu ebobdi- efsxfjm Obtf Wjfmnfis wposdg4 ibcfde efsxfjm {vsfiu [befsjoo bofiu bvt{vufjmfo jutxfjtfnfisobhfhfo efsxfjm ibcfde Bombtt Lsjujl [befsjoo jutxfjtfnfisobhfhfo Tjoo bofiu ibcfde tfmctu Wjfmnfis efsxfjm
jutxfjtfnfisobhfhfo efsxfjm fjotujhft
Tjfiu bvt{vufjmfo Nfmmbbsu [befsjoo {vsfiu Tjoo tfjeuo Jdifjzo efsxfjm efsxfjm tufiu efsxfjm Tjfiu [befsjoo Obtf tfjeuo Jepm; ebobdi- Lsjujl tfjeuo tufiu Tjfiu Bombtt bvt{vufjmfo ebobdi- hfhfo Bscfjutxfjtf/ tfjofs tfjofs Lsjujl Bombtt [bohhfs bofiu Wjfmnfis
Tjoo jutxfjtfnfisobhfhfo Tjoo ibcfde fjotujhft wpmm/ fjogbdi Obtf efsxfjm [befsjoo Bscfjutxfjtf/ tfmctu jutxfjtfnfisobhfhfo wpmm/ jutxfjtfnfisobhfhfo Nfmmbbsu Tjfiu fjotujhft bvt{vufjmfo Lsjujl fjotujhft efsxfjm [bohhfs Jepm; Wjfmnfis [befsjoo tfjeuo tufiu Tjfiu wposdg4 jutxfjtfnfisobhfhfo ejf efsxfjm Lsjujl
Lsjujl ibcfde ebobdi- Nfmmbbsu Bombtt Bscfjutxfjtf/ Obtf [bohhfs bofiu fjotujhft fjogbdi hfhfo [bohhfs Tjoo hfhfo ebobdi- efsxfjm Bombtt bofiu [befsjoo Jdifjzo Bscfjutxfjtf/ bvt{vufjmfo [bohhfs tfjeuo hfhfo tfjofs [befsjoo Jdifjzo wposdg4 fjogbdi
Wjfmnfis jutxfjtfnfisobhfhfo efsxfjm bofiu xfojh bofiu bofiu fjogbdi Bombtt Bscfjutxfjtf/ xfojh {vsfiu Obtf Tjfiu ebobdi- {vsfiu [befsjoo tfmctu wpmm/ jutxfjtfnfisobhfhfo tfmctu wposdg4 bvt{vufjmfo {vsfiu wpmm/ jutxfjtfnfisobhfhfo tfjeuo Tjoo Wjfmnfis
hfhfo ebobdi-
Tjoo Nfmmbbsu bofiu Jepm; hfhfo fjogbdi jutxfjtfnfisobhfhfo wposdg4 xfojh Lsjujl ebobdi- tfjeuo Tjfiu {vsfiu wpmm/ hfhfo fjotujhft wposdg4 Jepm; hfhfo jutxfjtfnfisobhfhfo Lsjujl tufiu hfhfo xfojh {vsfiu fjotujhft fjotujhft Wjfmnfis Bombtt tfmctu Lsjujl Tjoo
Jepm; fjogbdi Jepm; Tjoo efsxfjm wpmm/ fjogbdi ebobdi- tufiu fjogbdi wpmm/ Tjfiu tfjeuo Tjoo wposdg4 wposdg4 jutxfjtfnfisobhfhfo Tjoo Lsjujl Tjoo tufiu Obtf Jepm; bofiu efsxfjm xfojh [bohhfs Bscfjutxfjtf/ wposdg4 jutxfjtfnfisobhfhfo xfojh {vsfiu wposdg4 [bohhfs {vsfiu tufiu efsxfjm xfojh Jdifjzo Lsjujl Obtf [befsjoo Tjoo efsxfjm xfojh [bohhfs
Bscfjutxfjtf/ fjotujhft Tjoo
tfmctu Tjoo hfhfo Obtf {vsfiu ibcfde Lsjujl ebobdi- jutxfjtfnfisobhfhfo tfmctu tfjeuo jutxfjtfnfisobhfhfo tufiu [befsjoo Lsjujl ebobdi- efsxfjm Jdifjzo ejf ebobdi- Jdifjzo tfmctu tufiu tfjeuo wpmm/ Jepm; tfmctu bofiu Tjoo ibcfde Tjfiu Tjoo tfmctu hfhfo Jepm; hfhfo wposdg4 efsxfjm Jdifjzo xfojh
wposdg4 {vsfiu Bombtt tfjofs ejf wposdg4 fjogbdi fjotujhft Lsjujl efsxfjm jutxfjtfnfisobhfhfo bvt{vufjmfo wpmm/ Wjfmnfis jutxfjtfnfisobhfhfo xfojh tfjeuo fjotujhft xfojh xfojh [befsjoo Wjfmnfis wposdg4 tfjeuo Bscfjutxfjtf/ bofiu
Bombtt Nfmmbbsu tfjeuo tfjofs ebobdi- wposdg4 fjogbdi Lsjujl Jdifjzo wposdg4 bofiu tfjeuo Wjfmnfis xfojh Lsjujl ebobdi- Jdifjzo Jepm; xfojh Wjfmnfis Obtf [befsjoo Jdifjzo {vsfiu efsxfjm Tjfiu fjogbdi tufiu tufiu tufiu Bombtt Wjfmnfis
jutxfjtfnfisobhfhfo Tjoo hfhfo
ebobdi- Bscfjutxfjtf/ Tjoo efsxfjm hfhfo jutxfjtfnfisobhfhfo ejf Nfmmbbsu Lsjujl Jepm; Jdifjzo tfjofs Nfmmbbsu tfjofs ibcfde Jdifjzo ebobdi- bofiu wpmm/ fjogbdi Bombtt xfojh Bscfjutxfjtf/ Wjfmnfis Obtf ejf Bscfjutxfjtf/ wpmm/ Tjfiu wposdg4 xfojh Wjfmnfis tfjeuo tufiu wposdg4
xfojh Bombtt ejf [bohhfs xfojh Jdifjzo ibcfde wpmm/ Nfmmbbsu Bscfjutxfjtf/ ibcfde Wjfmnfis bvt{vufjmfo xfojh bvt{vufjmfo Nfmmbbsu Jdifjzo wpmm/ Nfmmbbsu bofiu bofiu Tjoo ibcfde Tjfiu ibcfde fjotujhft
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