Option One's Dwindling Options

H&R Block remains optimistic it can sell the subprime lender for a nice price. But the Street remains dubious

H&R Block (HRB) CEO Mark A. Ernst slapped a for-sale sign on Option One Mortgage Corp. back in November, confident he could get $1.3 billion. At a conference on Jan. 9 he assured investors that the subprime lending arm was "drawing strong interest from very sophisticated buyers." But as of mid-March, no formal bids have been announced and prospects look bleak.

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