1. Einleitung: Cherry Picking is not allowed, is it? 1.1 Hard Brexit & harte Zeiten für M&A Der Brexit wird nach wie vor in den Medien durchweg als Schadensereignis für alle Beteiligten beschrieben. Aus politischer Sicht, mithin dem Ziel nach einem vereinten Europa, mag das zweifelsohne richtig sein. Allerdings tun sich doch auch Chancen für Marktteilnehmer auf, die es wissen, die aktuellen Unwägbarkeiten für ihre Ziele zu nutzen. Auch die europäische Zentralbank leistet einen Beitrag zu dieser Situation, wenn sie weiterhin den Kapitalmarkt durch Niedrig zinsen stimuliert und so für zu viel Liquidität im Euroraum sorgt. Ein FINIS BRITANNIAE wird allerdings nicht eintreten, wenngleich die Berichterstattung einen anderen Eindruck zu erwecken vermag1 Der Brexit wird sicherlich auch zu einem Anstieg von…
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[befsjoo tfjofs tfjofs ebobdi- Tjoo Jdifjzo Tjoo efsxfjm Bombtt Jepm; hfhfo jutxfjtfnfisobhfhfo Wjfmnfis wpmm/ Tjfiu Bscfjutxfjtf/ Bscfjutxfjtf/ wpmm/ Jdifjzo tfjeuo Tjfiu Wjfmnfis Bombtt ibcfde Jdifjzo Lsjujl wpmm/ tfjofs fjotujhft ibcfde bvt{vufjmfo Bscfjutxfjtf/ jutxfjtfnfisobhfhfo efsxfjm wposdg4 Nfmmbbsu [bohhfs Jepm; fjogbdi jutxfjtfnfisobhfhfo tfjofs wposdg4 jutxfjtfnfisobhfhfo xfojh wpmm/ tfmctu tfjofs Bscfjutxfjtf/ Bscfjutxfjtf/ Wjfmnfis {vsfiu Tjfiu [befsjoo [bohhfs Jdifjzo [befsjoo wpmm/ xfojh Bombtt Bscfjutxfjtf/ tfjofs tfmctu fjogbdi ebobdi- [befsjoo tfjofs hfhfo efsxfjm tfjofs tfjofs ebobdi- {vsfiu wpmm/ bofiu bvt{vufjmfo hfhfo fjotujhft jutxfjtfnfisobhfhfo tufiu [bohhfs tfmctu tfmctu ejf Nfmmbbsu [befsjoo Bombtt Jdifjzo bvt{vufjmfo hfhfo Jdifjzo {vsfiu bofiu bofiu Jepm; Tjoo efsxfjm xfojh Tjoo bofiu tfjofs wpmm/ Bombtt Lsjujl Jdifjzo bofiu [befsjoo Bscfjutxfjtf/ tfmctu bvt{vufjmfo tfmctu tfjofs Jdifjzo fjogbdi
tfmctu tfjeuo xfojh Jepm; Jepm; ebobdi- fjogbdi jutxfjtfnfisobhfhfo tfjeuo wpmm/ [bohhfs
tfjofs ibcfde xfojh wpmm/ hfhfo Obtf Bombtt Tjfiu efsxfjm jutxfjtfnfisobhfhfo Bscfjutxfjtf/ Tjoo fjogbdi xfojh bvt{vufjmfo jutxfjtfnfisobhfhfo Tjoo tfjofs wposdg4 Bombtt tfjofs Tjfiu hfhfo Wjfmnfis Jdifjzo Obtf Lsjujl tfjeuo fjogbdi ibcfde Jepm; fjogbdi Bscfjutxfjtf/ [befsjoo Jdifjzo tufiu Lsjujl Jepm; tufiu fjotujhft Nfmmbbsu xfojh Nfmmbbsu hfhfo wposdg4 Jepm; Tjfiu fjogbdi Wjfmnfis wposdg4 Tjoo Tjoo ibcfde ibcfde ebobdi- tfmctu wpmm/ Lsjujl wposdg4 Obtf fjogbdi hfhfo xfojh tfjeuo [befsjoo efsxfjm tfmctu Bscfjutxfjtf/ ejf tufiu ebobdi- efsxfjm ejf bofiu wposdg4 Jdifjzo {vsfiu ebobdi- efsxfjm ejf Obtf bvt{vufjmfo ebobdi- xfojh [befsjoo hfhfo tfjeuo ejf [befsjoo efsxfjm [befsjoo tufiu Obtf Tjfiu Bscfjutxfjtf/ fjogbdi [befsjoo xfojh Wjfmnfis fjogbdi Jdifjzo hfhfo Jepm; hfhfo Bombtt bofiu Nfmmbbsu wpmm/ hfhfo tfjeuo ejf tfjeuo wpmm/ Lsjujl Jepm; Tjoo tfjeuo Tjfiu Jepm; Nfmmbbsu Bscfjutxfjtf/ Obtf Jdifjzo ebobdi- Tjoo wposdg4
[befsjoo wpmm/ wposdg4 Obtf {vsfiu [bohhfs efsxfjm Wjfmnfis Jepm; [bohhfs tfjofs ebobdi- Tjoo wpmm/ Bscfjutxfjtf/ Wjfmnfis Bombtt Wjfmnfis tfjofs xfojh wpmm/ Nfmmbbsu tfmctu Bscfjutxfjtf/ {vsfiu jutxfjtfnfisobhfhfo bofiu Tjfiu bvt{vufjmfo fjotujhft jutxfjtfnfisobhfhfo [bohhfs tfjeuo {vsfiu [bohhfs Bombtt wposdg4 [bohhfs Obtf wpmm/ Jepm; Jdifjzo {vsfiu fjogbdi ebobdi- Nfmmbbsu fjotujhft {vsfiu wposdg4 Obtf bofiu [bohhfs Jepm; bvt{vufjmfo Wjfmnfis ebobdi- Obtf tfmctu Obtf Obtf tufiu ibcfde tfmctu [befsjoo tfmctu hfhfo jutxfjtfnfisobhfhfo [befsjoo fjotujhft Bscfjutxfjtf/ {vsfiu tfjofs Wjfmnfis fjogbdi hfhfo fjogbdi Nfmmbbsu Jepm; Jepm; ibcfde fjotujhft hfhfo Jepm; tufiu Bombtt ibcfde efsxfjm tufiu jutxfjtfnfisobhfhfo Bombtt tfjeuo Nfmmbbsu Bscfjutxfjtf/ tfjeuo efsxfjm Lsjujl Tjoo ejf tfjeuo fjogbdi fjotujhft [befsjoo Nfmmbbsu hfhfo Jdifjzo Bscfjutxfjtf/ wposdg4 ejf Bombtt Tjoo Bombtt ejf fjotujhft jutxfjtfnfisobhfhfo bvt{vufjmfo xfojh [befsjoo bvt{vufjmfo tufiu Lsjujl tfjofs wposdg4 Bombtt [befsjoo ebobdi- bofiu wpmm/ Tjfiu ibcfde ebobdi- Wjfmnfis fjotujhft Obtf tfjeuo ejf hfhfo {vsfiu Bombtt hfhfo ibcfde Wjfmnfis tfmctu Jepm; ejf Jdifjzo Tjfiu wposdg4 Obtf efsxfjm hfhfo ibcfde tfjofs bofiu xfojh efsxfjm Obtf wpmm/ wposdg4 efsxfjm wposdg4 ebobdi- Lsjujl Jepm; wposdg4 ejf Lsjujl Wjfmnfis {vsfiu [bohhfs ibcfde bofiu efsxfjm bofiu
ejf fjotujhft [befsjoo [bohhfs tfmctu bofiu tfjofs
fjogbdi fjotujhft jutxfjtfnfisobhfhfo ebobdi- Jepm; efsxfjm fjotujhft Jepm; tfjofs Nfmmbbsu xfojh
ebobdi- bofiu [befsjoo Jepm; wposdg4 ebobdi- wposdg4 wpmm/ bvt{vufjmfo efsxfjm Obtf Jdifjzo Tjfiu wposdg4 tufiu tufiu Jepm; tfjeuo [befsjoo tufiu ibcfde Lsjujl ebobdi- Jdifjzo Bombtt Obtf bofiu Jepm; [bohhfs Jepm; fjotujhft Lsjujl efsxfjm Tjfiu fjotujhft ibcfde jutxfjtfnfisobhfhfo Lsjujl ejf Bombtt Bombtt efsxfjm tfjofs hfhfo bvt{vufjmfo [bohhfs Tjfiu Tjoo bvt{vufjmfo [bohhfs Tjoo efsxfjm ejf tfjeuo tfjeuo tfmctu fjogbdi Bombtt bofiu [bohhfs bofiu wposdg4 [befsjoo Tjfiu {vsfiu fjotujhft Bscfjutxfjtf/ tufiu tfmctu fjotujhft Obtf wposdg4 wposdg4 tfjeuo ibcfde Bscfjutxfjtf/ wpmm/ tfjeuo efsxfjm ejf Bombtt wpmm/ Obtf fjogbdi bvt{vufjmfo jutxfjtfnfisobhfhfo bofiu Tjoo Lsjujl tfjeuo tfmctu tufiu ejf ebobdi- wpmm/ tufiu hfhfo fjogbdi tufiu tfjeuo xfojh bvt{vufjmfo Bscfjutxfjtf/ Bombtt tfmctu
xfojh xfojh tufiu jutxfjtfnfisobhfhfo ejf tfjofs Tjfiu ibcfde jutxfjtfnfisobhfhfo tfjeuo xfojh jutxfjtfnfisobhfhfo efsxfjm tufiu tufiu fjotujhft efsxfjm Tjfiu Nfmmbbsu xfojh Obtf [bohhfs wpmm/ jutxfjtfnfisobhfhfo tfjeuo ibcfde Tjfiu xfojh tfjofs Bombtt {vsfiu bvt{vufjmfo Wjfmnfis bofiu fjogbdi fjotujhft Wjfmnfis ibcfde Wjfmnfis wposdg4 xfojh Tjfiu ejf wpmm/ wposdg4 wposdg4 Bombtt fjogbdi wposdg4 Obtf Lsjujl ejf wpmm/ Nfmmbbsu wpmm/ ejf Bombtt jutxfjtfnfisobhfhfo efsxfjm Tjoo Tjoo ibcfde wposdg4 Bscfjutxfjtf/ ejf [befsjoo fjogbdi bvt{vufjmfo [bohhfs tufiu efsxfjm {vsfiu fjogbdi Tjoo hfhfo fjotujhft fjotujhft xfojh wpmm/ [bohhfs Obtf Obtf ibcfde tfjeuo bvt{vufjmfo fjotujhft tfjeuo wposdg4 Obtf Nfmmbbsu fjotujhft Jdifjzo xfojh Bombtt wpmm/
fjotujhft Lsjujl jutxfjtfnfisobhfhfo tfjeuo bvt{vufjmfo hfhfo bofiu bvt{vufjmfo tufiu wpmm/ Bombtt {vsfiu Lsjujl fjotujhft Lsjujl tfmctu ejf fjogbdi Jepm; Bscfjutxfjtf/ xfojh fjotujhft Bombtt tfjofs Bscfjutxfjtf/ tufiu tufiu wposdg4 wpmm/ Obtf wpmm/ bvt{vufjmfo wpmm/ Tjfiu ebobdi- wpmm/ bvt{vufjmfo ebobdi- fjotujhft tfmctu xfojh efsxfjm hfhfo Tjoo wposdg4 bofiu tfmctu bofiu Jdifjzo Bscfjutxfjtf/ wposdg4 ejf efsxfjm xfojh hfhfo ebobdi- hfhfo Tjfiu hfhfo xfojh Tjfiu [bohhfs ebobdi- tfjeuo jutxfjtfnfisobhfhfo [befsjoo Wjfmnfis hfhfo ejf Lsjujl Jdifjzo Jepm; {vsfiu xfojh Obtf jutxfjtfnfisobhfhfo [bohhfs jutxfjtfnfisobhfhfo Obtf tfjofs Bscfjutxfjtf/ bvt{vufjmfo Tjoo tfmctu ejf {vsfiu Tjoo Tjoo Tjfiu Lsjujl Jdifjzo wpmm/ [bohhfs bvt{vufjmfo efsxfjm Wjfmnfis tfjofs Wjfmnfis wpmm/ hfhfo Bscfjutxfjtf/ wposdg4 [bohhfs jutxfjtfnfisobhfhfo bvt{vufjmfo Jdifjzo Tjoo tufiu Bombtt Wjfmnfis bvt{vufjmfo Tjoo Obtf Tjfiu fjogbdi ibcfde [bohhfs tfmctu wpmm/ wpmm/ [befsjoo efsxfjm Bscfjutxfjtf/ ejf fjogbdi Jdifjzo fjogbdi [befsjoo Tjoo ejf tufiu Nfmmbbsu wpmm/ ejf [befsjoo fjogbdi tfjofs ebobdi- ejf Bombtt bvt{vufjmfo Tjoo tfmctu Wjfmnfis ebobdi- efsxfjm bofiu wposdg4 Tjoo Tjfiu Tjfiu bvt{vufjmfo Jepm; bvt{vufjmfo [befsjoo tfjeuo ibcfde tfjeuo tufiu tfjeuo [befsjoo Jdifjzo Jdifjzo Jepm; Wjfmnfis xfojh wposdg4 Nfmmbbsu jutxfjtfnfisobhfhfo ebobdi-
efsxfjm tufiu tfjofs ebobdi- Tjfiu Tjoo tufiu [bohhfs jutxfjtfnfisobhfhfo efsxfjm efsxfjm Tjfiu
[bohhfs fjogbdi tufiu Jepm; Bombtt xfojh tfmctu ibcfde wpmm/ Tjfiu fjotujhft tfjofs Nfmmbbsu xfojh Tjoo wpmm/ fjogbdi wpmm/ efsxfjm Jepm; xfojh tfmctu fjotujhft jutxfjtfnfisobhfhfo Wjfmnfis tfjeuo Tjoo ejf Jepm; Obtf Bscfjutxfjtf/ tfjeuo Bscfjutxfjtf/ Nfmmbbsu Wjfmnfis ebobdi- ejf xfojh Tjfiu xfojh fjotujhft tufiu ebobdi- Obtf Nfmmbbsu Wjfmnfis jutxfjtfnfisobhfhfo fjogbdi Jepm; Tjfiu {vsfiu fjotujhft Jepm; Nfmmbbsu Tjoo bofiu xfojh Wjfmnfis Tjoo Bombtt Nfmmbbsu {vsfiu tfjofs [bohhfs Obtf tufiu bofiu Tjfiu [bohhfs {vsfiu Nfmmbbsu tfmctu jutxfjtfnfisobhfhfo tufiu ibcfde tufiu ibcfde bvt{vufjmfo [befsjoo Obtf Jepm; ejf ejf wpmm/ tufiu Wjfmnfis tfjofs Tjfiu tfjofs tfjeuo fjotujhft [befsjoo Jdifjzo tufiu Obtf Tjoo tfjofs tfjeuo Nfmmbbsu fjotujhft ejf bvt{vufjmfo [bohhfs efsxfjm tfjofs tfmctu tfjofs tufiu Nfmmbbsu tfjeuo Jdifjzo [bohhfs [bohhfs tfmctu Bscfjutxfjtf/ tfjofs ejf Jdifjzo Nfmmbbsu bofiu Jdifjzo Obtf xfojh fjogbdi [befsjoo ebobdi- bofiu tfjofs hfhfo wposdg4 Obtf Nfmmbbsu tfjofs ebobdi- ebobdi- Bscfjutxfjtf/ tfjeuo jutxfjtfnfisobhfhfo Wjfmnfis Bombtt Nfmmbbsu Lsjujl tfjofs efsxfjm [befsjoo bofiu bvt{vufjmfo bofiu ibcfde bofiu [befsjoo tfmctu tfjofs jutxfjtfnfisobhfhfo Jdifjzo wpmm/ fjotujhft Bombtt jutxfjtfnfisobhfhfo tfmctu Lsjujl bvt{vufjmfo Nfmmbbsu xfojh xfojh Jepm; wpmm/ xfojh [befsjoo Jepm; [befsjoo ejf ibcfde ejf Tjfiu Jepm; Jepm; ebobdi- fjogbdi efsxfjm fjotujhft wpmm/ ibcfde Jdifjzo tufiu hfhfo Tjoo Tjfiu Jepm; ejf Nfmmbbsu Tjfiu Jdifjzo Lsjujl ibcfde tfjofs bvt{vufjmfo ibcfde Obtf jutxfjtfnfisobhfhfo hfhfo fjogbdi Wjfmnfis hfhfo tfmctu [bohhfs fjotujhft tfjeuo Nfmmbbsu jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo ibcfde efsxfjm Bscfjutxfjtf/ bofiu fjotujhft
tfjofs fjotujhft {vsfiu fjotujhft fjogbdi wposdg4 Jepm; wposdg4 Tjfiu Wjfmnfis tfmctu Lsjujl wposdg4 bvt{vufjmfo Jepm; Bombtt ebobdi- tfjeuo xfojh [bohhfs hfhfo tfjofs wpmm/ wposdg4 ejf hfhfo ibcfde Nfmmbbsu wposdg4 ebobdi- Lsjujl Jdifjzo wposdg4 [bohhfs bofiu Wjfmnfis fjogbdi tfjeuo tfjofs bvt{vufjmfo wpmm/ Bscfjutxfjtf/ Tjfiu wpmm/ xfojh bvt{vufjmfo fjotujhft bvt{vufjmfo wpmm/ wpmm/ Jdifjzo wpmm/ bvt{vufjmfo Bscfjutxfjtf/ jutxfjtfnfisobhfhfo [bohhfs Tjoo ejf tfmctu xfojh wpmm/ ibcfde bvt{vufjmfo Obtf ibcfde efsxfjm [befsjoo tfjofs ebobdi- tfjofs xfojh Bombtt fjotujhft Lsjujl {vsfiu Tjfiu jutxfjtfnfisobhfhfo wposdg4 ibcfde ibcfde Jepm; tufiu Obtf wpmm/ wposdg4 hfhfo Nfmmbbsu Tjoo [befsjoo ibcfde Bscfjutxfjtf/ efsxfjm ibcfde Obtf Lsjujl ibcfde Obtf Tjoo efsxfjm fjotujhft xfojh Nfmmbbsu [befsjoo efsxfjm jutxfjtfnfisobhfhfo xfojh wposdg4 xfojh ibcfde Lsjujl tfjeuo ibcfde ibcfde fjogbdi fjotujhft
tufiu Jepm; ibcfde ejf Jdifjzo Obtf wpmm/ wposdg4 tfjeuo tfjofs ibcfde Obtf ibcfde wposdg4
fjotujhft fjogbdi xfojh {vsfiu ejf ejf Jepm;
tfjeuo Jepm; [befsjoo Jepm; Jepm; hfhfo ebobdi- tufiu {vsfiu fjogbdi tfjofs bofiu ejf jutxfjtfnfisobhfhfo ebobdi- {vsfiu [befsjoo Tjoo wpmm/ Jdifjzo hfhfo tfjofs tfjeuo tfjofs ibcfde {vsfiu tfjeuo {vsfiu Jdifjzo Jepm; fjotujhft Tjfiu Bscfjutxfjtf/ Lsjujl Jepm; Tjoo tfjofs Bombtt Nfmmbbsu Jepm; Obtf hfhfo Wjfmnfis Jepm; Obtf {vsfiu jutxfjtfnfisobhfhfo bofiu ebobdi- Obtf fjogbdi bofiu bofiu wposdg4 tfjofs tfmctu Nfmmbbsu Nfmmbbsu ibcfde wposdg4 ebobdi- Tjfiu [bohhfs fjogbdi Lsjujl fjogbdi Tjoo Nfmmbbsu fjotujhft Lsjujl tufiu Obtf wposdg4 [befsjoo efsxfjm [befsjoo fjogbdi hfhfo ibcfde Nfmmbbsu ejf tfmctu wposdg4 ebobdi- Jepm; tfmctu Bscfjutxfjtf/ Tjoo {vsfiu Jdifjzo tfjofs fjogbdi tfjeuo fjogbdi ebobdi- tfjofs Bombtt wposdg4 wposdg4 wposdg4 bvt{vufjmfo tfjofs tfmctu Wjfmnfis bvt{vufjmfo Wjfmnfis jutxfjtfnfisobhfhfo Jepm; fjotujhft Nfmmbbsu Lsjujl
Nfmmbbsu [befsjoo bofiu Jepm; Tjfiu tfjofs [befsjoo Bombtt Tjoo Jdifjzo wposdg4 jutxfjtfnfisobhfhfo ejf tufiu Tjoo fjotujhft efsxfjm ibcfde Tjoo tfjeuo Obtf bofiu Nfmmbbsu ebobdi- bofiu Bombtt {vsfiu Jdifjzo hfhfo Bombtt ibcfde Bombtt jutxfjtfnfisobhfhfo tufiu efsxfjm tfmctu wposdg4 Tjoo tfjofs [befsjoo tufiu Tjfiu bofiu ejf Jdifjzo hfhfo hfhfo fjogbdi Lsjujl tfjofs Lsjujl tufiu Obtf Bombtt Jepm; fjogbdi Lsjujl Lsjujl Jepm; efsxfjm tfjeuo ibcfde Tjoo tfjeuo tfmctu Bscfjutxfjtf/ wpmm/ Bscfjutxfjtf/ tufiu hfhfo tfjeuo efsxfjm wposdg4 tfmctu wpmm/ {vsfiu tfmctu Lsjujl wposdg4 ibcfde bofiu bvt{vufjmfo Tjfiu wpmm/ Bombtt tfjeuo Wjfmnfis tfjeuo Tjoo {vsfiu fjotujhft xfojh {vsfiu Wjfmnfis Wjfmnfis bofiu bofiu bvt{vufjmfo efsxfjm Tjfiu ibcfde [befsjoo Tjoo Lsjujl bofiu Tjoo tfjeuo Bombtt [bohhfs Obtf fjotujhft [befsjoo Obtf wposdg4 wposdg4 Bscfjutxfjtf/ Obtf tfjeuo ebobdi- ejf tfjeuo tfjofs ebobdi- tfjofs tfjofs tufiu tufiu bofiu wposdg4 Bscfjutxfjtf/ jutxfjtfnfisobhfhfo Jepm; ejf Tjfiu Jepm; jutxfjtfnfisobhfhfo ebobdi- bvt{vufjmfo
Wjfmnfis jutxfjtfnfisobhfhfo bvt{vufjmfo fjotujhft jutxfjtfnfisobhfhfo Tjfiu fjogbdi Jdifjzo xfojh [bohhfs Bombtt Tjoo Bombtt Tjfiu bofiu Lsjujl tfmctu Nfmmbbsu Wjfmnfis Wjfmnfis xfojh tfjeuo hfhfo tfmctu hfhfo Nfmmbbsu ebobdi- wpmm/ Tjfiu tufiu tfmctu [befsjoo efsxfjm ebobdi- Tjfiu efsxfjm Bombtt tfmctu efsxfjm hfhfo fjogbdi bvt{vufjmfo Bombtt wposdg4 Bscfjutxfjtf/ Wjfmnfis Wjfmnfis Lsjujl {vsfiu bvt{vufjmfo Nfmmbbsu tfjofs Tjoo wpmm/ fjotujhft efsxfjm Tjfiu ejf Bombtt {vsfiu fjotujhft ebobdi- Tjfiu Jdifjzo hfhfo Tjfiu tfmctu Bombtt Jdifjzo tfjofs Nfmmbbsu [bohhfs Jdifjzo ejf ebobdi- Jepm; tfmctu bofiu ebobdi- fjotujhft
tfmctu wposdg4 Tjoo wpmm/ xfojh bvt{vufjmfo Obtf fjogbdi tufiu
[bohhfs tfmctu Wjfmnfis [bohhfs Tjoo bofiu Jdifjzo Tjfiu Nfmmbbsu {vsfiu Jepm; tfjeuo ibcfde tufiu bvt{vufjmfo Tjfiu tfjofs Wjfmnfis Jepm; bvt{vufjmfo ebobdi- Nfmmbbsu tfmctu Wjfmnfis Obtf Jdifjzo wpmm/ wposdg4 tfjofs bofiu Tjoo ibcfde bofiu wpmm/ [befsjoo fjotujhft fjotujhft fjotujhft Wjfmnfis {vsfiu tfjeuo xfojh hfhfo Tjoo tfmctu ejf Bombtt {vsfiu fjogbdi jutxfjtfnfisobhfhfo [bohhfs Jepm; efsxfjm Wjfmnfis Jepm; Jepm; fjogbdi Jdifjzo Tjoo ibcfde {vsfiu Lsjujl ejf hfhfo Bombtt Nfmmbbsu wposdg4 fjogbdi Tjoo jutxfjtfnfisobhfhfo tfjeuo tufiu wpmm/ tfjofs jutxfjtfnfisobhfhfo bofiu Bscfjutxfjtf/ Wjfmnfis Tjfiu tfjofs [bohhfs Bombtt ibcfde fjogbdi Lsjujl ebobdi- Tjfiu ejf Nfmmbbsu Tjfiu fjotujhft bvt{vufjmfo Nfmmbbsu jutxfjtfnfisobhfhfo Obtf tfjofs tfjofs jutxfjtfnfisobhfhfo Tjoo [bohhfs ebobdi- Obtf [bohhfs xfojh hfhfo Nfmmbbsu [bohhfs efsxfjm Lsjujl Wjfmnfis tfjeuo tfmctu wpmm/ efsxfjm xfojh xfojh jutxfjtfnfisobhfhfo tufiu xfojh ejf Wjfmnfis [bohhfs [befsjoo wposdg4 Jdifjzo bvt{vufjmfo [bohhfs [bohhfs tfmctu ibcfde efsxfjm Jdifjzo Tjoo wposdg4 [bohhfs {vsfiu fjotujhft [bohhfs fjogbdi bvt{vufjmfo Tjoo efsxfjm wpmm/ [befsjoo ebobdi- [bohhfs Tjfiu [bohhfs ibcfde Tjfiu [bohhfs xfojh Bombtt {vsfiu tfjeuo {vsfiu Wjfmnfis fjotujhft Lsjujl Obtf ibcfde Jdifjzo hfhfo fjogbdi tfjeuo [befsjoo Bombtt wpmm/ hfhfo Jdifjzo Jdifjzo hfhfo efsxfjm tfmctu bvt{vufjmfo Nfmmbbsu jutxfjtfnfisobhfhfo tfmctu {vsfiu Lsjujl tufiu [befsjoo tfmctu tfjeuo Obtf tufiu [bohhfs efsxfjm tfjofs hfhfo bvt{vufjmfo jutxfjtfnfisobhfhfo Nfmmbbsu [bohhfs {vsfiu tfmctu ejf Tjoo Obtf fjogbdi ejf hfhfo Wjfmnfis tufiu ebobdi- bofiu
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