nationalize
verb [ T ]
GOVERNMENT, ECONOMICS (UK also nationalise) uk/ˈnæʃənəlaɪz/ usif a government nationalizes an industry or a company, it takes control of it and becomes the owner:
Mexico nationalized its oil industry in 1938 after decades of control by foreign oil companies.
After 47 years as a nationalized industry, the government broke Britain's railway system into around 80 private companies.
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privatize