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