Privatization meaning

The process of converting a government-operated business to one that is privately owned. Privatization occurs by selling shares in the government-owned business to private shareholders such as individuals and institutional investors. During the 1980s and 1990s, governments throughout the world raised billions of dollars by privatizing companies.
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Origin of privatization

  • Coined by Sidney Merlin in 1943 though aware of earlier reprivatization.

    From Wiktionary