Definition of privatization noun from the Oxford Advanced Learner's Dictionary



(British English also -isation) noun
BrE BrE//ˌpraɪvətaɪˈzeɪʃn//
; NAmE NAmE//ˌpraɪvətəˈzeɪʃn//
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the act of selling a business or an industry so that it is no longer owned by the government There were fears that privatization would lead to job losses.