privatization [privatizations](transfer from the government to private ownership) noun [UK: ˈpraɪ.və.tə.ˈzeɪ.ʃən] [US: ˈpraɪ.və.tə.ˈzeɪ.ʃən]It was disappointing to hear about the privatization of Chilean copper. = La privatización del cobre chileno sería algo muy poco agradable de oír.