privatization
🇺🇸
/ˌpraɪvətəˈzeɪʃn/
🇬🇧
/ˌpraɪvətaɪˈzeɪʃn/
noun
C1
The process of transferring ownership of a business or industry from the government to private companies or individuals.
The privatization of the national railway system allowed private companies to operate train services.
translation
The process of transferring ownership of a business or industry from the government to private companies or individuals.
Word Forms
Plural
privatizations