Safeway considers selling gift-card network

03/5/2008 | Los Angeles Times (tiered subscription model)

Safeway recently said it may sell or "monetize" part of its gift-card unit, Blackhawk Network, because it was undervalued. "We are determined to get the market to appreciate the underlying value of Blackhawk," said Safeway CEO Steve Burd. "If at some point we feel frustrated in that the market's not valuing that, then there would be an effort to monetize a piece of that so that we could get that appreciation."

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