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English definition of “privatize”

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.
→ Compare nationalize
(Definition of privatize from the Cambridge Business English Dictionary © Cambridge University Press)
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