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CompuServe spinoff delayed

Published on .

CompuServe, Columbus, Ohio, said on Wednesday that H&R Block, which owns 80% of CompuServe shares, will not present a proposed spinoff to shareholders at Block's annual meeting Sept. 11. The decision was based, in part, on CompuServe's first-quarter and projected second-quarter losses. CompuServe, provider of online/Internet access service, said Block's board still plans an eventual spinoff.

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