NorthPoint Communications announced Fri. it pulled out of VersaPoint, joint venture with European broadband operator VersaTel, as part of its effort to reduce spending. NorthPoint sold its 50% share of venture to VersaTel which will relieve NorthPoint of capital commitment worth about $23.2 million, assume VersaPoint liabilities and pay NorthPoint about $6.5 million in cash. VersaPoint began commercial service in summer, offering retail DSL services in VersaTel’s core market of Benelux area and northwest Germany. “Under the circumstances, we do not have the resources to support this venture,” NorthPoint Chmn. Michael Malaga. Verizon, which had planned to combine its DSL business with NorthPoint’s, cited “deterioration” in NorthPoint’s business operations and financial condition as reasons for ending venture.