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English definition of “nationalize”

nationalize

verb [T] (UK also nationalise)
 
 
/ˈnæʃənəlaɪz/ GOVERNMENT, ECONOMICS
if a government nationalizes an industry or a company, it takes control of it and becomes the owner: Mexico nationalized its oil industry in 1938 after decades of control by foreign oil companies. After 47 years as a nationalized industry, the government broke Britain's railway system into around 80 private companies. → Compare privatize
(Definition of nationalize from the Cambridge Business English Dictionary © Cambridge University Press)
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