| privatize privatize , -ise // verb [+ obj] (Economics ) to sell a business or an industry so that it is no longer owned and controlled by the government: Air traffic control has been privatized. the decision to privatize the railways newly privatized companies SYN DENATIONALIZE OPP NATIONALIZE privatization , -isation /; AmE / noun [U,C]: the privatization of the water industry rail privatization a series of privatizations by the new government |