Compuserve Deal Under Discussion

H&R Block Inc. said it’s in discussions with a third party about a possible business combination for its 80 percent-owned CompuServe Corp. unit, the lagging No. 2 online service.

Shares of CompuServe jumped 38 percent this week amid speculation that America Online Inc., the No. 1 online service, might bid for its rival. H&R Block and AOL declined to comment, and CompuServe wasn’t available.

CompuServe, the oldest online service, has been unprofitable in the past year while losing customers to AOL and Microsoft Corp.’s service. Since H&R Block spun off 20 percent of the unit last April, CompuServe stock has lost two-thirds of its value.

“There’s low confidence that CompuServe will be pro-active and turn itself around,” said ABM AMRO Chicago Corp. analyst Kenneth Leon.