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English definition of “privatize”

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privatize

verb [T] uk ( UK usually privatise)   /ˈpraɪ.və.taɪz/ us  
C1 If a government privatizes an industry, company, or service that it owns and controls, it sells it so that it becomes privately owned and controlled: I bought shares in British Gas when it was privatized.
privatization
noun [U] uk ( UK usually privatisation)   /ˌpraɪ.vɪ.taɪˈzeɪ.ʃən/ us    /-t̬ə-/
More examples
The last few years have seen the privatization of many industries previously owned by the state.
Translations of “privatize”
in Chinese (Traditional) 使私有化…
in Russian приватизировать…
in Turkish özelleştirmek…
in Chinese (Simplified) 使私有化…
in Polish prywatyzować…
(Definition of privatize from the Cambridge Advanced Learners Dictionary & Thesaurus © Cambridge University Press)
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