Privatize Definition

prīvə-tīz
privatized, privatizes, privatizing
verb
privatized, privatizes, privatizing
To make or hold private; specif., to turn over (a public property, service, etc.) to private interests.
Webster's New World
To change (an industry or business, for example) from governmental or public ownership or control to private enterprise.
American Heritage

To transfer ownership of a public utility from the government to private interests. See also liberalize, nationalize, and utility.

Webster's New World Telecom
Synonyms:
privatise

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