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August 21, 1997updated 03 Sep 2016 8:39pm


By CBR Staff Writer

CompuServe Corp’s parent H&R Block Inc says it will look to quickly spin off the online service provider is it doesn’t find a buyer soon. It says it expects talks with a prospective buyer – widely assumed to be America Online Inc – soon. The talks started in April. Alternatively, CompuServe is said to be very close to meeting the criteria laid down by its parent for a spin-off, reports Bloomberg. Due to a tax break built up by its losses, CompuServe is due to receive $70m from H&R next month. That would take its cash balances above $200m, which is one of the criteria.

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