BellSouth Corp chief executive John Clendenin said yesterday that the Baby Bell has not ruled out following Pacific Telesis Group Inc’s lead in spinning off its cellular operations. But we have nothing in the way of an imminent plan of that type, Clendenin told the annual meeting. We have looked at the possibilities of that kind of spin-off very carefully and are continuing to evaluate them, he said. Clendenin, who claims that BellSouth’s cellular operations are the largest in the world, noted a number of differences between his company’s situation and that of Pacific Telesis, most important no doubt being that his is largely out of reach of California regulators.