The Collaborative International Dictionary of English v.0.48:

nationalize \na"tion*al*ize\, v. t. [imp. & p. p.
   Nationalized; p. pr. & vb. n. Nationalizing.] [Cf. F.
   nationaliser.]
   1. To make national; to make a nation of; to endow with the
      character and habits of a nation, or the peculiar
      sentiments and attachment of citizens of a nation.
      [1913 Webster]

   2. To change ownership of (a business, a property) from
      private ownership to state ownership or control; as, to
      nationalize the steel industry.
      [PJC]