Meaning of “nationalization” in the English Dictionary


"nationalization" in Business English

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nationalizationnoun [ U ]

UK also nationalisation uk /ˌnæʃənəlaɪˈzeɪʃən/ us /ˌnæʃənələˈzeɪʃən/ GOVERNMENT, ECONOMICS

a process in which a government takes control of an industry or company and becomes its owner:

the nationalization of sth His plans include the nationalization of electricity and energy companies.
The contract they signed in October was less lucrative than the one they had before nationalization.

(Definition of “nationalization” from the Cambridge Business English Dictionary © Cambridge University Press)