| Arguably, Swiss railways. SBB, the main operator, is a limited company, where 100% of the shares are owned by the state and the cantons and operates at arm's length from the state. However, there are also other companies which operate rail services, whose share ownership is a mixture of the state, cantons and private individuals. Whether you count this as privatised rail infrastructure is perhaps a matter of perspective. The railways are mainly (but not wholly) publicly owned but operate independently of the state / cantons in the same way as fully private companies. |