privatize

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♦ pri|vat|ize /pr'aɪvətaɪz/ (privatizes privatizing privatized)
in BRIT, also use privatise
[VERB] be V-ed, V n, V-ed
If a company, industry, or service that is owned by the state is privatized, the government sells it and makes it a private company. (BUSINESS)
The water boards are about to be privatized.
...a pledge to privatise the rail and coal industries.
...the newly privatized FM radio stations.
≠ nationalize
● privatization [N-VAR] oft N of n
...the privatisation of British Rail.
...fresh rules governing the conduct of future privatizations.
≠ nationalization

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