A Soviet joke goes like this: "Daddy, daddy, they've said on the radio that vodka price goes up next month! Does it mean that you won't drink as much anymore?" — "No, son, it means that you won't eat as much no more".

So. The new private owner(s) will try to increase their profit. Increasing the efficiency of the processes already in place while providing the same services with the same coverage/quality/etc. at the same prices is indeed one way to increase the profit... but it's one of the hardest ways. Hiking up the prices and discontinuing services with smallest margins is a much simpler, easier, and even more effort-efficient way so this is what's going to happen first.