Sign up for our newsletter - Navigating the horizon of business technology​
Technology / AI and automation

H&R BLOCK TO SPIN OFF COMPUSERVE FAST IF IT CANNOT SELL IT

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.

White papers from our partners


This article is from the CBROnline archive: some formatting and images may not be present.

CBR Staff Writer

CBR Online legacy content.