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Nationalized industries

These are industries owned by the public, i.e. in the control of the government through a semi-autonomous Board of Management. There are no shareholders apart from the government, though to raise money to buy the shares (or just to provide additional finance) the governemnt has sometimes issued bonds at fixed interest.Certain industries may be aquired by the back door, by purchaising shares gradually, and sometimes, rather than purchase an industry outright, the government acquires a sufficient stake to enable it to direct policy – a modified form of nationalization.

Reference: The Penguin Business Dictionary , 3rd edt.