H&R Block Inc, which clearly understands the American tax system like no other company around, is to inject a $70m gain into its troubled child CompuServe Corp. The gain is a result of CompuServe’s continuing losses, which came to a total of $119.8m in the year to April 30 that included an $80.1m charge. And better news still for CompuServe: it will get the money on September 25 regardless of whether or not H&R Block manages to persuade any other company to take CompuServe off its hands before then. It has been talking to potential buyers for around six months. CompuServe had $138.8m cash at the end of April. It should be reporting its first quarter results for fiscal 1998 any day now.
