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English definition of “privatize”


verb [I or T] (UK also privatise)     /ˈpraɪvɪtaɪz/
ECONOMICS, GOVERNMENT if the government privatizes companies and organizations that it owns , it sells them to private investors : The conglomerate calls itself the world's largest water company and has been a pioneer in the trend toward privatizing government water services .
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(Definition of privatize verb from the Cambridge Business English Dictionary © Cambridge University Press)
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