A giant telecommunications company that was previously owned by the government of Sunzabia, a European country, is sold to an independent industrialist to ensure that the company is handled in a more efficient way. The given scenario exemplifies

Answer: Privatization.

Explanation:

The giant telecommunication company has experienced privatization as it's ownership has switched from public to private. Privatization occurs when a government owned business establishment is traded to a private individual/organization, therefore the owners of the business are private individuals.